Miracle Mile Advisors LLC Boosts Holdings in Colgate-Palmolive (NYSE:CL)

Miracle Mile Advisors LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 19.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,842 shares of the company’s stock after acquiring an additional 636 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Colgate-Palmolive were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive in the second quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in Colgate-Palmolive during the first quarter valued at $38,000. Continuum Advisory LLC boosted 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 last quarter. Voisard Asset Management Group Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter worth about $40,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $100.61 on Wednesday. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The business’s 50 day moving average price is $103.61 and its 200 day moving average price is $96.94. The company has a market cap of $82.54 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 3.62 and a beta of 0.40. Colgate-Palmolive has a one year low of $68.44 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CL. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Bank of America increased their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. UBS Group lifted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup raised their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.74.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction dated 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 transaction, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by company insiders.

About Colgate-Palmolive

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.