Colgate-Palmolive (NYSE:CL) Stake Raised by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in Colgate-Palmolive (NYSE:CL) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,622 shares of the company’s stock after buying an additional 6,993 shares during the quarter. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $6,397,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive during the second quarter valued at about $25,000. Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Rise Advisors LLC bought a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $38,000. Voisard Asset Management Group Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $40,000. Finally, Register Financial Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth approximately $48,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Martina Hundmejean sold 2,313 shares of the company’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 owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sally Massey sold 15,850 shares of the firm’s 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 directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 0.9 %

Shares of NYSE CL traded up $0.86 during mid-day trading on Friday, reaching $100.10. 4,858,703 shares of the company traded hands, compared to its average volume of 4,351,980. The company’s fifty day moving average is $103.56 and its two-hundred day moving average is $97.15. 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 has a fifty-two week low of $68.54 and a fifty-two week high of $109.30. The stock has a market cap of $82.13 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CL. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. BNP Paribas started coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. UBS Group lifted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Bank of America increased their target price 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. One 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’s stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.