Sanctuary Advisors LLC increased its holdings in Colgate-Palmolive Company (NYSE:CL – Free Report) by 10.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,276 shares of the company’s stock after buying an additional 10,329 shares during the period. Sanctuary Advisors LLC’s holdings in Colgate-Palmolive were worth $9,835,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its position in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Barclays raised their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.
Colgate-Palmolive Price Performance
CL stock opened at $92.46 on Tuesday. The firm has a market cap of $73.71 billion, a P/E ratio of 36.69, a P/E/G ratio of 4.26 and a beta of 0.33. The firm’s fifty day moving average is $91.93 and its 200 day moving average is $90.12. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.
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 for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is 84.13%.
Insider Activity
In related news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company’s stock.
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.
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