Massachusetts Wealth Management Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Massachusetts Wealth Management raised its stake in Colgate-Palmolive (NYSE:CL) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,522 shares of the company’s stock after purchasing an additional 350 shares during the period. Massachusetts Wealth Management’s holdings in Colgate-Palmolive were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Union Savings Bank lifted its holdings in shares of Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 134 shares during the period. Avion Wealth lifted its holdings in shares of Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Core Wealth Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Shares of CL traded down $0.23 during trading hours on Thursday, hitting $95.89. 2,114,672 shares of the stock were exchanged, compared to its average volume of 4,069,581. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $99.08. The company has a market cap of $78.67 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 3.54 and a beta of 0.39. The stock’s 50-day moving average price is $94.17 and its two-hundred day moving average price is $87.90.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. Research analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Analysts Set New Price Targets

CL has been the subject of a number of research reports. Evercore ISI lifted their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. BNP Paribas began coverage on Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Argus boosted their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Barclays boosted their price target on Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.83.

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.