iSAM Funds UK Ltd acquired a new stake in Colgate-Palmolive Company (NYSE:CL – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,800 shares of the company’s stock, valued at approximately $532,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its position in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management increased its position 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 position in Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Institutional investors own 80.41% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on CL shares. Citigroup boosted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Barclays raised their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. TD Cowen upped their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Piper Sandler increased their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.
Insiders Place Their Bets
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by company insiders.
Colgate-Palmolive Trading Up 0.6%
Shares of NYSE CL opened at $90.21 on Thursday. The firm has a 50 day moving average price of $91.97 and a two-hundred day moving average price of $89.92. The stock has a market cap of $71.91 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 4.18 and a beta of 0.33. 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 issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 84.13%.
About Colgate-Palmolive
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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