Global Retirement Partners LLC Invests $1.68 Million in Colgate-Palmolive Company $CL

Key Points

• Global Retirement Partners initiated a $1.68 million position in Colgate-Palmolive during the second quarter, while institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $99, compared with the stock’s opening price of $90.22.
• Colgate-Palmolive exceeded quarterly EPS expectations, reporting $0.99 versus the $0.95 consensus, while revenue rose 4.9% year over year to $5.36 billion. The company also pays a quarterly dividend of $0.53, yielding approximately 2.3% annually.

Global Retirement Partners LLC bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,364 shares of the company's stock, valued at approximately $1,684,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Colgate-Palmolive during the 4th quarter worth $861,670,000. Bank of New York Mellon Corp grew its stake in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock worth $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $236,682,000. Finally, Deutsche Bank AG increased its holdings in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after buying an additional 2,746,920 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares of the company's stock, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred 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 approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CL shares. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. Barclays raised their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock 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 report on Friday, May 1st. Royal Bank Of Canada increased their price objective 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. Finally, Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a "buy" rating in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Colgate-Palmolive Price Performance

Shares of CL opened at $90.22 on Tuesday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm has a market capitalization of $71.92 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33. The stock's fifty day moving average is $91.76 and its 200-day moving average is $90.05. 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 released its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Colgate-Palmolive's revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued 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 was Monday, July 20th. Colgate-Palmolive's payout ratio is presently 84.13%.

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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