Colgate-Palmolive Company $CL Shares Acquired by Merit Financial Group LLC
by Michael Walen · The Markets DailyMerit Financial Group LLC boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,797 shares of the company’s stock after purchasing an additional 10,007 shares during the period. Merit Financial Group LLC’s holdings in Colgate-Palmolive were worth $3,461,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sunpointe LLC lifted its stake in Colgate-Palmolive by 4.0% during the fourth quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock valued at $241,000 after purchasing an additional 117 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in Colgate-Palmolive by 1.4% during the fourth quarter. Capital Advisors Inc. OK now owns 9,595 shares of the company’s stock valued at $758,000 after purchasing an additional 129 shares during the last quarter. S.A. Mason LLC lifted its stake in Colgate-Palmolive by 3.9% during the third quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock valued at $280,000 after purchasing an additional 130 shares during the last quarter. Security National Bank of Sioux City Iowa IA lifted its stake in Colgate-Palmolive by 0.8% during the third quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company’s stock valued at $1,298,000 after purchasing an additional 130 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its position in shares of Colgate-Palmolive by 4.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,015 shares of the company’s stock valued at $241,000 after acquiring an additional 130 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on CL shares. Rothschild & Co Redburn set a $93.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 13th. Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $100.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 20th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $97.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.44.
View Our Latest Stock Analysis on CL
Insider Activity at Colgate-Palmolive
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. This represents a 59.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last quarter. 0.43% of the stock is owned by corporate insiders.
Colgate-Palmolive Stock Up 0.0%
Shares of NYSE:CL opened at $85.83 on Monday. The company has a market cap of $68.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 4.28 and a beta of 0.34. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The firm has a 50 day simple moving average of $89.99 and a 200 day simple moving average of $83.77. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.
Colgate-Palmolive Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is currently 79.39%.
About Colgate-Palmolive
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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