Pure Financial Advisors LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,495 shares of the company’s stock, valued at approximately $1,237,000.
A number of other large investors have also recently made changes to their positions in CL. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its position in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC boosted its stake in Colgate-Palmolive by 61.4% during 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. Triumph Capital Management increased its holdings in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $26,000. 80.41% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CL has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. UBS Group lifted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Colgate-Palmolive Price Performance
Colgate-Palmolive stock opened at $92.12 on Thursday. The business’s 50 day simple moving average is $91.98 and its 200 day simple moving average is $90.08. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a market cap of $73.44 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 4.27 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its 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 firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the company earned $0.92 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given 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 was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.
Insider Buying and Selling
In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction 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 approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company’s stock.
Colgate-Palmolive Company 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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