Simplicity Wealth LLC cut its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 60.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,647 shares of the company's stock after selling 23,448 shares during the period. Simplicity Wealth LLC's holdings in Colgate-Palmolive were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $911,000. TD Asset Management Inc boosted its stake in shares of Colgate-Palmolive by 2.4% during the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company's stock worth $103,969,000 after acquiring an additional 26,987 shares in the last quarter. Empowered Funds LLC grew its position in shares of Colgate-Palmolive by 277.3% during the 1st quarter. Empowered Funds LLC now owns 33,082 shares of the company's stock valued at $2,979,000 after acquiring an additional 24,314 shares during the period. M&G Plc acquired a new position in Colgate-Palmolive in the 1st quarter worth about $3,812,000. Finally, Sei Investments Co. boosted its position in Colgate-Palmolive by 41.5% during the first quarter. Sei Investments Co. now owns 598,639 shares of the company's stock worth $53,901,000 after purchasing an additional 175,445 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
CL has been the subject of several research analyst reports. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Barclays increased their price objective 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. Wells Fargo & Company cut shares of Colgate-Palmolive from an "equal weight" rating to an "underweight" rating and set a $100.00 target price for the company. in a research note on Monday, September 16th. Bank of America raised their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a "hold" rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.
Read Our Latest Stock Report on CL
CL stock opened at $100.10 on Friday. Colgate-Palmolive has a one year low of $68.54 and a one year high of $109.30. The firm has a market cap of $82.13 billion, a PE ratio of 31.68, a PEG ratio of 3.54 and a beta of 0.40. The firm's 50 day moving average price is $103.56 and its 200-day moving average price is $97.20. 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 - Get Free Report) last posted its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The company 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.
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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive's dividend payout ratio is presently 63.29%.
In related news, 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 completion of the sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred 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 sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Colgate-Palmolive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Colgate-Palmolive wasn't on the list.
While Colgate-Palmolive currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.