Colgate-Palmolive Company $CL Stock Bought by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management increased its Colgate-Palmolive stake by 896.5% in the third quarter, acquiring 20,423 additional shares for a total holding valued at approximately $1.94 million.
• Institutional investors own 80.41% of Colgate-Palmolive, while insiders have sold 175,191 shares worth about $16.1 million over the past 90 days.
• Colgate-Palmolive reported quarterly earnings of $0.99 per share, beating estimates, and announced a quarterly dividend of $0.53 per share. Analysts maintain a “Moderate Buy” consensus with a $97.95 average price target.

WealthPlan Investment Management LLC boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 896.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,701 shares of the company's stock after purchasing an additional 20,423 shares during the quarter. WealthPlan Investment Management LLC's holdings in Colgate-Palmolive were worth $1,937,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CL. State Street Corp boosted its position 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 worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock valued at $1,240,652,000 after acquiring an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after acquiring an additional 88,917 shares during the last quarter. Amundi increased its holdings in Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after acquiring an additional 1,033,918 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Colgate-Palmolive in the 2nd quarter worth $567,483,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Down 0.0%

Shares of NYSE:CL traded down $0.03 during trading on Thursday, reaching $92.75. The company's stock had a trading volume of 3,646,345 shares, compared to its average volume of 5,660,953. The stock has a market capitalization of $73.94 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm's 50 day simple moving average is $89.04 and its two-hundred day simple moving average is $88.93.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping 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 analysts' expectations of $5.36 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is currently 84.13%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Weiss Ratings downgraded Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Barclays increased their target price 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. Finally, Bank of America cut their target price on shares of Colgate-Palmolive from $102.00 to $100.00 and set a "buy" rating for the company in a report on Friday, October 9th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.