NewEdge Advisors LLC Acquires 5,363 Shares of Colgate-Palmolive (NYSE:CL)

NewEdge Advisors LLC increased its stake in Colgate-Palmolive (NYSE:CL) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,375 shares of the company’s stock after buying an additional 5,363 shares during the quarter. NewEdge Advisors LLC’s holdings in Colgate-Palmolive were worth $4,985,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CL. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after purchasing an additional 416,853 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the period. Legal & General Group Plc raised its position in Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after purchasing an additional 61,413 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after acquiring an additional 278,150 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen upped their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Citigroup upped their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.74.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 in the last three months. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 1.4 %

Colgate-Palmolive stock opened at $102.31 on Wednesday. The stock has a market cap of $83.94 billion, a P/E ratio of 32.38, a PEG ratio of 3.62 and a beta of 0.40. The firm’s 50 day moving average price is $103.48 and its 200-day moving average price is $96.62. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for 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 company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. Colgate-Palmolive’s payout ratio is 63.29%.

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.