Colgate-Palmolive Company $CL Stock Acquired by Apella Capital LLC

Key Points

• Apella Capital LLC increased its Colgate-Palmolive stake by 312.2% in the third quarter, bringing its holdings to 18,033 shares valued at approximately $1.54 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $98.65, although some firms recently lowered or maintained their targets.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a $0.53 quarterly dividend, representing a 2.4% annualized yield.

Apella Capital LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 312.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,033 shares of the company's stock after acquiring an additional 13,658 shares during the quarter. Apella Capital LLC's holdings in Colgate-Palmolive were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cooper Financial Group raised its stake in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after buying an additional 114 shares during the period. Gould Capital LLC increased its holdings in Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company's stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 2.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock worth $397,000 after acquiring an additional 118 shares in the last quarter. SVB Wealth LLC raised its stake in Colgate-Palmolive by 1.4% during the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock worth $804,000 after acquiring an additional 119 shares during the period. Finally, ANB Bank lifted its holdings in Colgate-Palmolive by 1.7% during 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 in the last quarter. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday, October 5th. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Barclays boosted their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Weiss Ratings lowered Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.65.

Colgate-Palmolive Stock Up 0.1%

Shares of NYSE:CL opened at $88.19 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $70.31 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.33. The business's 50 day moving average is $89.10 and its 200 day moving average is $88.77. 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 issued its earnings results 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 business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company posted $0.92 EPS. Colgate-Palmolive's revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's payout ratio is 84.13%.

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company'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 owned 362,231 shares of the company's stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. 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 sold a total of 175,191 shares of company stock worth $16,110,903 over the last 90 days. Company insiders own 0.43% of the company's stock.

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, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

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