Colgate-Palmolive Company $CL Shares Purchased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC raised its stake in Colgate‑Palmolive by 76.4% in Q4, buying an additional 20,486 shares to hold 47,317 shares worth about $3.74 million.
• Wall Street sentiment is positive with a consensus rating of "Moderate Buy" and a consensus price target of $95.56; several firms recently raised targets or upgraded the stock (e.g., Evercore to $100, Citigroup to $105, Deutsche Bank to Buy).
• Colgate beat quarterly estimates (EPS $0.95 vs. $0.91; revenue $5.23B vs. $5.13B) and raised its quarterly dividend to $0.53 (annualized $2.12, ~2.5% yield), though its payout ratio is relatively high at about 80.9%.

Concurrent Investment Advisors LLC raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 76.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,317 shares of the company's stock after purchasing an additional 20,486 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Colgate-Palmolive were worth $3,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company's stock valued at $676,931,000 after buying an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company's stock valued at $645,719,000 after buying an additional 2,572,796 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Colgate-Palmolive by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company's stock valued at $517,167,000 after buying an additional 314,584 shares during the last quarter. Amundi grew its holdings in shares of Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company's stock valued at $487,505,000 after buying an additional 1,850,412 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Colgate-Palmolive by 2.8% during the third quarter. Legal & General Group Plc now owns 5,919,524 shares of the company's stock valued at $473,207,000 after buying an additional 162,253 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CL. Evercore boosted their price objective on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Citigroup boosted their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a "buy" rating in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating and boosted their target price for the company from $90.00 to $98.00 in a research report on Monday, March 30th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus price target of $95.56.

Colgate-Palmolive Trading Down 0.6%

Shares of Colgate-Palmolive stock opened at $84.16 on Tuesday. The firm has a 50-day simple moving average of $88.54 and a two-hundred day simple moving average of $83.99. The company has a market cap of $67.52 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 4.33 and a beta of 0.34. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.85 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive's payout ratio is currently 80.92%.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer owned 55,310 shares of the company's stock, valued at $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Hazlin sold 20,989 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider directly owned 17,645 shares of the company's stock, valued at $1,663,041.25. This represents a 54.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 184,683 shares of company stock worth $17,486,693. 0.43% of the stock is currently owned by insiders.

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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