Frank Rimerman Advisors LLC Raises Stock Position in Colgate-Palmolive (NYSE:CL)

Frank Rimerman Advisors LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 6,205.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,927 shares of the company’s stock after purchasing an additional 5,833 shares during the period. Frank Rimerman Advisors LLC’s holdings in Colgate-Palmolive were worth $575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Prospector Partners LLC boosted its position in Colgate-Palmolive by 0.6% during the 2nd quarter. Prospector Partners LLC now owns 175,515 shares of the company’s stock valued at $17,032,000 after acquiring an additional 970 shares in the last quarter. Legacy Financial Advisors Inc. bought a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $213,000. Westwood Holdings Group Inc. grew its stake in Colgate-Palmolive by 35.8% in the second quarter. Westwood Holdings Group Inc. now owns 4,362 shares of the company’s stock worth $423,000 after purchasing an additional 1,151 shares during the period. Summit Trail Advisors LLC raised its holdings in Colgate-Palmolive by 2.6% in the second quarter. Summit Trail Advisors LLC now owns 5,490 shares of the company’s stock worth $533,000 after purchasing an additional 141 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Colgate-Palmolive by 1.8% during the second quarter. Sei Investments Co. now owns 609,139 shares of the company’s stock valued at $59,111,000 after buying an additional 10,500 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $103.31 on Tuesday. The company’s 50 day moving average is $102.83 and its 200 day moving average is $95.99. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The company has a market cap of $84.76 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30.

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, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. On average, equities research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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 1.94%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the sale, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock valued at $4,486,063 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of several research reports. Barclays increased their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Citigroup upped their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI boosted their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. BNP Paribas began coverage on Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target for the company. Finally, UBS Group increased their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.83.

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.