Colgate-Palmolive Company $CL Holdings Raised by Robertson Stephens Wealth Management LLC

Key Points

• Robertson Stephens Wealth Management increased its Colgate-Palmolive stake by 1,060.1% in the third quarter, reaching 29,815 shares valued at approximately $2.54 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53, representing a 2.3% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $97.95, though insiders sold more than 175,000 shares worth $16.1 million over the past three months.

Robertson Stephens Wealth Management LLC increased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,060.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,815 shares of the company's stock after acquiring an additional 27,245 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Colgate-Palmolive were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its stake in shares of Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive in the second quarter worth $567,483,000. Envestnet Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 266.5% in the second quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company's stock worth $380,136,000 after buying an additional 3,014,860 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Colgate-Palmolive by 151.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company's stock worth $364,894,000 after buying an additional 2,575,530 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $94.02 on Monday. The stock has a market cap of $74.95 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 4.55 and a beta of 0.33. The business's fifty day moving average is $89.05 and its 200 day moving average is $89.05. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 84.13%.

Insider Buying and Selling

In other Colgate-Palmolive news, 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 value of $389,352.90. Following the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction dated Monday, August 24th. The stock was 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 in the company, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 in the last three months. 0.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CL. Morgan Stanley reissued an "overweight" rating and set a $104.00 price target (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Bank of America decreased their price objective on shares of Colgate-Palmolive from $102.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. Weiss Ratings cut shares of Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. TD Cowen upped their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Finally, Citigroup increased their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus target price of $97.95.

About Colgate-Palmolive

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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