EP Wealth Advisors LLC increased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 427,686 shares of the company's stock after purchasing an additional 69,195 shares during the quarter. EP Wealth Advisors LLC owned approximately 0.05% of Colgate-Palmolive worth $39,210,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC boosted its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management boosted its position in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Colgate-Palmolive
In related news, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 0.43% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on CL shares. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Citigroup raised their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.00.
Read Our Latest Analysis on CL
Colgate-Palmolive Stock Performance
CL opened at $91.02 on Friday. The company has a market cap of $72.56 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 4.19 and a beta of 0.33. The stock has a 50-day moving average of $91.89 and a 200-day moving average of $90.14. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.
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, beating analysts' consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's dividend payout ratio is currently 84.13%.
About Colgate-Palmolive
(
Free Report)
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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