Kennebec Savings Bank Takes Position in Colgate-Palmolive (NYSE:CL)

Kennebec Savings Bank purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 873 shares of the company’s stock, valued at approximately $91,000.

Several other large investors have also modified their holdings of CL. Main Street Research LLC grew its position in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after buying an additional 100 shares during the last quarter. Advisor OS LLC grew its position in Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after purchasing an additional 101 shares during the last quarter. BLB&B Advisors LLC grew its position in Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. grew its position in Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after purchasing an additional 109 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Colgate-Palmolive by 9.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $92.00 on Tuesday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a fifty day moving average of $100.91 and a two-hundred day moving average of $98.50. The stock has a market capitalization of $75.17 billion, a PE ratio of 26.36, a P/E/G ratio of 3.31 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. UBS Group boosted their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Sanford C. Bernstein upped their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Finally, Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Company Profile

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.