Colgate-Palmolive Company $CL Stock: C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Raises Holdings

Key Points

• C2P Capital Advisory Group increased its Colgate-Palmolive stake by 294.5% in the third quarter, ending with 15,056 shares valued at approximately $1.29 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and seven Hold ratings producing a “Moderate Buy” consensus and an average price target of $97.95.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 in adjusted EPS and $5.36 billion in revenue, while declaring a quarterly dividend of $0.53 per share, yielding about 2.3% annually.

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 294.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,056 shares of the company's stock after purchasing an additional 11,240 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Colgate-Palmolive were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 8.1% in the 2nd 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 buying an additional 1,010,872 shares during the period. First Eagle Investment Management LLC lifted its position 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 worth $752,298,000 after buying an additional 88,917 shares in the last quarter. Amundi lifted its position in Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock worth $570,090,000 after buying an additional 1,033,918 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $567,483,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CL. 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. Jefferies Financial Group reaffirmed a "hold" rating and issued a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. UBS Group set a $106.00 price objective on Colgate-Palmolive in a research report on Thursday. Finally, Piper Sandler lowered their target price on Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, September 21st. Thirteen investment 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, the stock has an average rating of "Moderate Buy" and an average price target of $97.95.

Insider Transactions at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. 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. Over the last three months, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Stock Performance

CL stock opened at $92.61 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a market capitalization of $73.82 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 4.44 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 firm has a 50 day moving average of $89.04 and a two-hundred day moving average of $88.99.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's payout ratio 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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