SteelPeak Wealth LLC bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 57,696 shares of the company’s stock, valued at approximately $4,923,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. TD Capital Management LLC raised its position in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Virginia Estate & Retirement Planning Advisors Inc. lifted its holdings in Colgate-Palmolive by 1,409.1% in the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock valued at $28,000 after buying an additional 310 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $32,000. Park Place Capital Corp boosted its holdings in Colgate-Palmolive by 55.5% during the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Finally, Gould Capital LLC boosted its stake in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. 80.41% of the stock is owned by institutional investors.
Colgate-Palmolive Trading Up 1.5%
CL opened at $94.02 on Friday. The company has a 50-day simple moving average of $89.05 and a 200 day simple moving average of $89.02. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $74.95 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 4.50 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 84.13%.
Insiders Place Their Bets
In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on CL. UBS Group set a $106.00 target price on Colgate-Palmolive in a research note on Thursday. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Raymond James Financial upped their price objective on Colgate-Palmolive from $100.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. BNP Paribas Exane reduced their price target on Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Finally, Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.95.
View Our Latest Report on Colgate-Palmolive
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.
The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.
Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.
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