Global Assets Advisory LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Global Assets Advisory LLC purchased a new position in shares of Colgate-Palmolive (NYSE:CL) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 38,919 shares of the company’s stock, valued at approximately $3,505,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Union Savings Bank lifted its position in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Avion Wealth lifted its position in shares of Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Core Wealth Advisors Inc. lifted its position in shares of Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.8 %

Shares of NYSE CL opened at $98.99 on Tuesday. The company has a market capitalization of $81.22 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 3.58 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The business has a 50-day moving average of $92.97 and a two-hundred day moving average of $87.07. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $99.06.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the business earned $0.73 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Activity

In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group assumed coverage on Colgate-Palmolive in a research report on Friday, March 1st. They set a “buy” rating and a $93.00 price objective on the stock. Evercore ISI lifted their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, Citigroup raised their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.83.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.