Smith Salley Wealth Management Buys 110,034 Shares of Colgate-Palmolive Company $CL

Smith Salley Wealth Management increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 698.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,787 shares of the company’s stock after purchasing an additional 110,034 shares during the period. Smith Salley Wealth Management’s holdings in Colgate-Palmolive were worth $10,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Westside Investment Management Inc. lifted its holdings in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC increased its position in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares during the last quarter. Ransom Advisory Ltd bought a new position in Colgate-Palmolive in the first quarter valued at about $33,000. MTM Investment Management LLC purchased a new position in Colgate-Palmolive in the second quarter worth about $39,000. Finally, Louisbourg Investments Inc. grew its stake in shares of Colgate-Palmolive by 94.7% during the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.2%

NYSE CL opened at $79.51 on Wednesday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The stock has a 50 day moving average price of $78.54 and a 200-day moving average price of $82.46. The company has a market capitalization of $64.09 billion, a P/E ratio of 22.27, a P/E/G ratio of 5.68 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CL. Evercore ISI lowered their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Jefferies Financial Group set a $85.00 price objective on Colgate-Palmolive in a research note on Tuesday, December 16th. Citigroup decreased their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Bank of America lowered their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.