Global Retirement Partners LLC Buys 1,056 Shares of Colgate-Palmolive (NYSE:CL)

Global Retirement Partners LLC lifted its holdings in Colgate-Palmolive (NYSE:CL) by 16.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,466 shares of the company’s stock after acquiring an additional 1,056 shares during the quarter. Global Retirement Partners LLC’s holdings in Colgate-Palmolive were worth $775,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC raised its stake in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Colgate-Palmolive in the first quarter worth about $48,000. Gradient Investments LLC boosted its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $68,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $100.46 on Monday. The company’s 50 day moving average is $103.43 and its 200 day moving average is $97.66. 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 $82.42 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $71.46 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on 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 sale, the insider now directly 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 SEC, which can be accessed through this link. In other news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on 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 sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock valued at $4,486,063 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CL. Stifel Nicolaus raised their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays raised their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. Finally, Citigroup upped their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.