Colgate-Palmolive (NYSE:CL) Shares Sold by Mattern Wealth Management LLC

by · The Markets Daily

Mattern Wealth Management LLC trimmed its position in Colgate-Palmolive (NYSE:CL – Free Report) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,248 shares of the company’s stock after selling 7,562 shares during the period. Mattern Wealth Management LLC’s holdings in Colgate-Palmolive were worth $1,583,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new position in Colgate-Palmolive during the second quarter worth about $25,000. Continuum Advisory LLC increased its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Register Financial Advisors LLC acquired a new position in Colgate-Palmolive in the first quarter worth $48,000. Gradient Investments LLC increased its holdings in Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after purchasing an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Colgate-Palmolive during the second quarter worth about $68,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the sale, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Barclays raised their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Sanford C. Bernstein boosted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Get Our Latest Analysis on CL

Colgate-Palmolive Price Performance

Shares of CL traded up $0.05 during trading hours on Tuesday, reaching $99.41. 906,088 shares of the stock traded hands, compared to its average volume of 4,314,484. The company’s 50-day moving average price is $103.39 and its two-hundred day moving average price is $97.75. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The company has a market cap of $81.56 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $71.46 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL – Get Free Report) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Colgate-Palmolive Profile

(Free Report)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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