Corient Private Wealth LP Increases Position in Colgate-Palmolive Company $CL

Corient Private Wealth LP raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 39.3% during the second quarter, Holdings Channel.com reports. The fund owned 690,854 shares of the company’s stock after buying an additional 195,062 shares during the period. Corient Private Wealth LP’s holdings in Colgate-Palmolive were worth $63,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management raised its position in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $26,000. 80.41% of the stock is currently owned by institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CL shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. TD Cowen upped their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Piper Sandler raised their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $90.97 on Friday. The company has a market capitalization of $72.52 billion, a P/E ratio of 36.10, a P/E/G ratio of 4.30 and a beta of 0.33. The company’s 50-day simple moving average is $92.00 and its two-hundred day simple moving average is $90.06. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

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.