Castle Rock Wealth Management LLC Has $1.21 Million Stake in Colgate-Palmolive (NYSE:CL)

Castle Rock Wealth Management LLC lowered its holdings in Colgate-Palmolive (NYSE:CL) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,159 shares of the company’s stock after selling 388 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Colgate-Palmolive were worth $1,206,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in Colgate-Palmolive in the 1st quarter valued at $38,000. Continuum Advisory LLC increased its stake in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. Voisard Asset Management Group Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $40,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive during the first quarter valued at $48,000. Institutional investors own 80.41% of the company’s stock.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent research reports. Piper Sandler started coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. UBS Group upped their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.00.

Colgate-Palmolive Stock Up 0.6 %

Shares of NYSE:CL traded up $0.58 during midday trading on Friday, reaching $99.82. 917,026 shares of the company were exchanged, compared to its average volume of 4,333,793. The firm has a market cap of $81.56 billion, a PE ratio of 28.77, a P/E/G ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $68.54 and a fifty-two week high of $109.30. The stock has a fifty day simple moving average of $103.61 and a two-hundred day simple moving average of $97.07. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid 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 2.00%. Colgate-Palmolive’s dividend payout ratio is currently 57.97%.

About Colgate-Palmolive

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.