Commonwealth Financial Services LLC Buys Shares of 2,313 Colgate-Palmolive (NYSE:CL)

Commonwealth Financial Services LLC purchased a new position in shares of Colgate-Palmolive (NYSE:CL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,313 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the 2nd quarter worth about $25,000. Core Wealth Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares during the period. Rise Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter worth approximately $38,000. Continuum Advisory LLC grew its holdings in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The disclosure for this sale can be found here. In the last three months, insiders sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Barclays raised their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Bank of America lifted their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Colgate-Palmolive Stock Up 0.2 %

NYSE:CL opened at $103.31 on Tuesday. The stock has a 50-day simple moving average of $102.83 and a 200 day simple moving average of $95.99. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The company has a market capitalization of $84.76 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. Sell-side analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Colgate-Palmolive’s payout ratio is currently 63.29%.

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.