35,933 Colgate-Palmolive Company $CL Shares Acquired by IFP Advisors Inc

Key Points

• IFP Advisors increased its Colgate-Palmolive stake by 1,063.4% in the third quarter, acquiring 35,933 additional shares and bringing its total holdings to 39,312 shares valued at approximately $3.35 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive shares opened at $94.47, up 1.2%, while the company reported quarterly EPS of $0.99, exceeding analysts’ $0.95 estimate. Revenue rose 4.9% year over year to $5.36 billion.
• The company declared a quarterly dividend of $0.53 per share, equivalent to $2.12 annually and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.00, although insiders have sold more than 175,000 shares over the past three months.

IFP Advisors Inc increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,063.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,312 shares of the company's stock after buying an additional 35,933 shares during the period. IFP Advisors Inc's holdings in Colgate-Palmolive were worth $3,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CL. Cooper Financial Group raised its position in Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after acquiring an additional 114 shares during the period. Gould Capital LLC lifted its holdings in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Colgate-Palmolive by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock valued at $397,000 after purchasing an additional 118 shares in the last quarter. SVB Wealth LLC grew its position in shares of Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock valued at $804,000 after purchasing an additional 119 shares during the period. Finally, ANB Bank grew its position in shares of Colgate-Palmolive by 1.7% in the first quarter. ANB Bank now owns 7,200 shares of the company's stock valued at $614,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 1.2%

NYSE CL opened at $94.47 on Wednesday. The business has a fifty day moving average price of $89.10 and a 200 day moving average price of $89.17. Colgate-Palmolive Company has a one year low of $74.54 and a one year 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. The company has a market cap of $75.31 billion, a P/E ratio of 37.49, a P/E/G ratio of 4.52 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio is 84.13%.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill sold 4,170 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CL. Jefferies Financial Group reissued a "hold" rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. BNP Paribas Exane decreased their price target on shares of Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, September 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Barclays lifted their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $101.00 price objective (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.00.

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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