DoubleLine ETF Adviser LP Takes Position in Colgate-Palmolive Company $CL

Key Points

• DoubleLine ETF Adviser LP opened a new position in Colgate‑Palmolive, purchasing 41,185 shares in Q3 worth about $3.29 million, joining other institutional buyers as institutional ownership stands near 80.4%.
• Wall Street sentiment is positive with a consensus rating of Moderate Buy and an average price target of $94.75, and several firms (Bank of America, Evercore) recently hiking targets to about $100.
• Insiders have been net sellers recently — 184,683 shares worth roughly $17.49 million were sold over the last 90 days (notable sales by John Hazlin and COO Panagiotis Tsourapas), leaving insiders with just 0.34% ownership.

DoubleLine ETF Adviser LP bought a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,185 shares of the company's stock, valued at approximately $3,292,000.

Several other large investors have also recently bought and sold shares of the business. Elevation Point Wealth Partners LLC raised its position in Colgate-Palmolive by 24.6% during the third quarter. Elevation Point Wealth Partners LLC now owns 4,063 shares of the company's stock valued at $325,000 after buying an additional 801 shares during the period. EagleClaw Capital Managment LLC grew its stake in Colgate-Palmolive by 4.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 37,170 shares of the company's stock valued at $2,971,000 after acquiring an additional 1,421 shares in the last quarter. Bollard Group LLC increased its holdings in shares of Colgate-Palmolive by 5.3% in the 3rd quarter. Bollard Group LLC now owns 44,284 shares of the company's stock valued at $3,540,000 after purchasing an additional 2,212 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in shares of Colgate-Palmolive in the third quarter worth approximately $385,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Colgate-Palmolive by 3.3% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 189,894 shares of the company's stock worth $15,180,000 after purchasing an additional 6,023 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Bank of America upped their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Evercore lifted their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group upped their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $94.75.

Insider Buying and Selling

In related news, insider John Hazlin sold 20,989 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Panagiotis Tsourapas sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the sale, the chief operating officer directly owned 10,415 shares of the company's stock, valued at $985,363.15. The trade was a 77.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL opened at $88.85 on Friday. The firm has a market cap of $71.62 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28. The company's fifty day moving average is $90.11 and its 200-day moving average is $83.23. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's payout ratio is currently 79.39%.

Colgate-Palmolive Company 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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