Sutton Place Investors LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Sutton Place Investors LLC purchased a new position in Colgate-Palmolive (NYSE:CL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,247 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at $25,000. Union Savings Bank grew its holdings in shares of Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Avion Wealth increased its position in shares of Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. Finally, Core Wealth Advisors Inc. lifted its position in Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL traded up $1.41 on Tuesday, hitting $91.90. 5,286,250 shares of the stock traded hands, compared to its average volume of 4,616,837. The firm has a market capitalization of $75.54 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 3.42 and a beta of 0.42. The business’s fifty day moving average is $87.95 and its two-hundred day moving average is $81.92. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.28 and a current ratio of 0.42. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $92.25.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.5 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.18%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director C Martin Harris sold 2,760 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Noel R. Wallace sold 29,772 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the sale, the chief executive officer now directly owns 301,343 shares of the company’s stock, valued at $25,330,892.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Martin Harris sold 2,760 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the transaction, the director now directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,371 shares of company stock worth $19,505,099. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada raised their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday. Stifel Nicolaus upped their target price on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, Barclays increased their price objective on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.44.

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.