Godsey & Gibb Inc. Makes New Investment in Colgate-Palmolive Company $CL

Godsey & Gibb Inc. purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 67,712 shares of the company’s stock, valued at approximately $5,777,000.

Several other large investors have also recently modified their holdings of CL. State Street Corp boosted its stake in Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new stake in Colgate-Palmolive during the 2nd quarter valued at about $567,483,000. Envestnet Asset Management Inc. increased its stake in Colgate-Palmolive by 266.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after purchasing an additional 3,014,860 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive in the fourth quarter worth about $236,682,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CL shares. Weiss Ratings downgraded shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. BNP Paribas Exane reduced their price target on shares of Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. UBS Group boosted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Evercore upped their price objective on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.11.

Insider Activity

In related news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock valued at $16,110,903 over the last three months. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Up 3.2%

Colgate-Palmolive stock opened at $92.80 on Thursday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The business’s fifty day moving average is $89.04 and its 200 day moving average is $88.93. The stock has a market capitalization of $73.98 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.