Beacon Pointe Advisors LLC Buys Shares of 90,487 Colgate-Palmolive Company $CL

Key Points

• Beacon Pointe Advisors initiated a Colgate-Palmolive position of 90,487 shares valued at approximately $8.3 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $99, above the reported $90.75 share price.
• Colgate-Palmolive exceeded quarterly earnings expectations with adjusted EPS of $0.99 versus a $0.95 consensus, while revenue rose 4.9% year over year. The company also pays a quarterly dividend of $0.53, equivalent to a 2.3% annualized yield.

Beacon Pointe Advisors LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 90,487 shares of the company's stock, valued at approximately $8,296,000.

Other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Colgate-Palmolive by 86.7% in the fourth 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 during the last quarter. TD Capital Management LLC grew its position in 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 acquiring an additional 124 shares in the last quarter. Triumph Capital Management grew its position in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Insider Transactions at Colgate-Palmolive

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 value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares of the company's stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 362,231 shares in the company, valued at $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. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Trading Down 0.2%

CL stock opened at $90.75 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business has a fifty day moving average price of $92.02 and a 200 day moving average price of $90.06. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The stock has a market capitalization of $72.34 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 4.25 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 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company's revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

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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