Addison Advisors LLC Grows Stake in Colgate-Palmolive (NYSE:CL)

Addison Advisors LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 5.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,365 shares of the company’s stock after acquiring an additional 168 shares during the quarter. Addison Advisors LLC’s holdings in Colgate-Palmolive were worth $268,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CL. Asset Management One Co. Ltd. raised its position in Colgate-Palmolive by 1.4% in the third quarter. Asset Management One Co. Ltd. now owns 413,412 shares of the company’s stock valued at $29,398,000 after purchasing an additional 5,552 shares during the period. Handelsbanken Fonder AB increased its position in shares of Colgate-Palmolive by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 409,338 shares of the company’s stock worth $29,108,000 after acquiring an additional 3,233 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Colgate-Palmolive by 12.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,034 shares of the company’s stock worth $216,000 after acquiring an additional 329 shares during the last quarter. First Personal Financial Services increased its position in shares of Colgate-Palmolive by 9.4% during the third quarter. First Personal Financial Services now owns 98,842 shares of the company’s stock worth $7,029,000 after acquiring an additional 8,485 shares during the last quarter. Finally, Charles Schwab Trust Co purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $391,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on Colgate-Palmolive from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. UBS Group lifted their price target on Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Morgan Stanley lifted their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Finally, Citigroup lifted their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity

In related news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,371 shares of company stock valued at $19,505,099. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL traded up $1.72 during mid-day trading on Friday, reaching $91.01. 7,541,541 shares of the company’s stock traded hands, compared to its average volume of 3,968,951. The business’s 50-day moving average price is $87.66 and its 200-day moving average price is $81.46. The stock has a market capitalization of $74.81 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 3.35 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $92.25.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. Equities analysts predict that Colgate-Palmolive will post 3.5 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is 71.94%.

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.