Chapin Davis Inc. Makes New Investment in Colgate-Palmolive (NYSE:CL)

Chapin Davis Inc. acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,411 shares of the company’s stock, valued at approximately $217,000.

Other large investors also recently bought and sold shares of the company. Union Savings Bank grew 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 purchasing an additional 134 shares in the last quarter. Avion Wealth grew 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 purchasing an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Core Wealth Advisors Inc. grew 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 purchasing an additional 146 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth approximately $34,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 1.5 %

Colgate-Palmolive stock opened at $95.54 on Tuesday. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.08. 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 stock has a market cap of $78.38 billion, a PE ratio of 30.23, a P/E/G ratio of 3.57 and a beta of 0.39. The stock’s fifty day moving average is $93.87 and its two-hundred day moving average is $87.63.

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

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley increased 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. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. BNP Paribas started coverage on Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Insider Buying and Selling

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

Colgate-Palmolive Company 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.