Moody National Bank Trust Division Invests $827,000 in Colgate-Palmolive (NYSE:CL)

Moody National Bank Trust Division purchased a new position in Colgate-Palmolive (NYSE:CLGet Rating) during the 2nd quarter, HoldingsChannel reports. The fund purchased 10,324 shares of the company’s stock, valued at approximately $827,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CL. Parsec Financial Management Inc. raised its stake in Colgate-Palmolive by 7.2% during the second quarter. Parsec Financial Management Inc. now owns 171,842 shares of the company’s stock worth $13,771,000 after purchasing an additional 11,482 shares during the period. Adirondack Trust Co. raised its stake in Colgate-Palmolive by 4.1% during the second quarter. Adirondack Trust Co. now owns 12,079 shares of the company’s stock worth $968,000 after purchasing an additional 474 shares during the period. Somerset Trust Co raised its stake in Colgate-Palmolive by 0.7% during the second quarter. Somerset Trust Co now owns 29,211 shares of the company’s stock worth $2,341,000 after purchasing an additional 207 shares during the period. Confluence Investment Management LLC raised its stake in Colgate-Palmolive by 1.8% during the second quarter. Confluence Investment Management LLC now owns 1,458,355 shares of the company’s stock worth $116,873,000 after purchasing an additional 26,442 shares during the period. Finally, Rempart Asset Management Inc. raised its stake in shares of Colgate-Palmolive by 2.3% in the 2nd quarter. Rempart Asset Management Inc. now owns 236,755 shares of the company’s stock valued at $18,974,000 after acquiring an additional 5,210 shares during the period. 78.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Sally Massey sold 656 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $77.58, for a total value of $50,892.48. Following the completion of the transaction, the insider now owns 7,913 shares in the company, valued at approximately $613,890.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Sally Massey sold 656 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $77.58, for a total value of $50,892.48. Following the completion of the transaction, the insider now owns 7,913 shares in the company, valued at approximately $613,890.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Daniels sold 24,703 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $81.25, for a total transaction of $2,007,118.75. Following the completion of the transaction, the insider now owns 48,163 shares of the company’s stock, valued at approximately $3,913,243.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,802 shares of company stock worth $10,100,532. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CL shares. Barclays boosted their price target on shares of Colgate-Palmolive from $71.00 to $74.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Colgate-Palmolive from $88.00 to $87.00 in a research note on Tuesday, July 19th. Wells Fargo & Company raised shares of Colgate-Palmolive to an “equal weight” rating in a research note on Tuesday, August 9th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Finally, UBS Group boosted their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.57.

Colgate-Palmolive Trading Up 0.6 %

NYSE CL opened at $75.69 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 14.26. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The stock has a market capitalization of $63.13 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 5.39 and a beta of 0.48. The firm has a 50 day moving average of $79.10 and a two-hundred day moving average of $78.09.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Colgate-Palmolive had a net margin of 10.98% and a return on equity of 315.10%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive will post 3.03 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is 81.39%.

Colgate-Palmolive Profile

(Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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