Empowered Funds LLC Buys New Position in Colgate-Palmolive Company $CL

Key Points

• Empowered Funds LLC acquired 147,236 Colgate-Palmolive shares in the second quarter, valued at approximately $13.5 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly earnings of $0.99 per share, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion.
• The company maintains a quarterly dividend of $0.53 per share, equal to a 2.3% yield. Analysts have a “Moderate Buy” consensus rating and an average price target of $99, compared with a recent price of $90.75.

Empowered Funds LLC acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 147,236 shares of the company's stock, valued at approximately $13,499,000.

Several other institutional investors have also recently bought and sold shares of CL. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC increased its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management lifted its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth $26,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $90.75 on Friday. The business's 50-day simple moving average is $92.02 and its two-hundred day simple moving average is $90.06. The stock has a market cap of $72.34 billion, a PE ratio of 36.01, a P/E/G ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. 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 posted its earnings results on Friday, July 31st. The company reported $0.99 EPS 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 firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the company earned $0.92 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's payout ratio is 84.13%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Barclays upped their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. TD Cowen increased their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

Colgate-Palmolive 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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