Colgate-Palmolive Company $CL Stock Acquired by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners increased its Colgate-Palmolive stake by 335.9% in the third quarter, bringing its holdings to 54,703 shares valued at approximately $4.67 million. Institutional investors collectively own 80.41% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $98.65, although Wells Fargo lowered its target to $90 and Weiss Ratings downgraded the stock to “hold.”
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53 per share, representing a 2.4% annualized yield.

Venture Visionary Partners LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 335.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,703 shares of the company's stock after purchasing an additional 42,153 shares during the period. Venture Visionary Partners LLC's holdings in Colgate-Palmolive were worth $4,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cooper Financial Group increased its position in Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after purchasing an additional 114 shares during the last quarter. Gould Capital LLC lifted its holdings in shares of Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after buying an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 2.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock valued at $397,000 after buying an additional 118 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Colgate-Palmolive by 1.4% in the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock valued at $804,000 after buying an additional 119 shares in the last quarter. Finally, ANB Bank increased its holdings in Colgate-Palmolive by 1.7% in the first quarter. ANB Bank now owns 7,200 shares of the company's stock worth $614,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Buying and Selling

In other Colgate-Palmolive 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 directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This 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 have sold 175,191 shares of company stock worth $16,110,903 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CL. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday. UBS Group increased their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Royal Bank Of Canada restated an "outperform" rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Weiss Ratings lowered shares of 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 issued a $104.00 price objective 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 stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.65.

Colgate-Palmolive Stock Up 0.0%

CL opened at $87.26 on Thursday. The firm has a market cap of $69.56 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 4.07 and a beta of 0.33. 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 business has a 50 day moving average price of $89.23 and a 200 day moving average price of $88.75. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

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

Colgate-Palmolive Announces Dividend

The company also recently announced 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 is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 84.13%.

Colgate-Palmolive 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, 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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