Colgate-Palmolive Company $CL Stock: Ritholtz Wealth Management Increases Stake

Ritholtz Wealth Management lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 16.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,381 shares of the company’s stock after buying an additional 9,881 shares during the quarter. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $6,090,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. NBH Bank grew its position in shares of Colgate-Palmolive by 6.4% during the third quarter. NBH Bank now owns 2,477 shares of the company’s stock worth $211,000 after purchasing an additional 150 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in Colgate-Palmolive by 1.9% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 17,487 shares of the company’s stock valued at $1,492,000 after purchasing an additional 326 shares during the period. First Command Advisory Services Inc. lifted its holdings in Colgate-Palmolive by 17.4% in the 3rd quarter. First Command Advisory Services Inc. now owns 6,004 shares of the company’s stock worth $512,000 after purchasing an additional 890 shares in the last quarter. Machina Capital S.A.S. lifted its holdings in Colgate-Palmolive by 179.1% in the 3rd quarter. Machina Capital S.A.S. now owns 91,754 shares of the company’s stock worth $7,828,000 after purchasing an additional 58,882 shares in the last quarter. Finally, Silver Grove Financial Group Inc. boosted its stake in Colgate-Palmolive by 22.1% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 988 shares of the company’s stock worth $84,000 after purchasing an additional 179 shares during the period. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In related news, CEO Noel Wallace sold 20,000 shares of Colgate-Palmolive stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the completion of the transaction, the chief executive officer owned 359,700 shares in the company, valued at approximately $36,063,522. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Hazlin sold 23,376 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total value of $2,317,730.40. Following the sale, the insider directly owned 27,021 shares in the company, valued at $2,679,132.15. The trade was a 46.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 77,414 shares of company stock worth $7,613,786 in the last 90 days. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Colgate-Palmolive from $104.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Deutsche Bank reaffirmed a “buy” rating and set a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. TD Cowen boosted their price target on shares of Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings downgraded shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $101.22.

Colgate-Palmolive Trading Down 0.2%

Shares of CL opened at $97.84 on Friday. The stock has a market capitalization of $77.77 billion, a PE ratio of 38.37, a P/E/G ratio of 4.44 and a beta of 0.31. The company’s fifty day moving average is $90.74 and its 200 day moving average is $90.22. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.63 and a current ratio of 0.96. Colgate-Palmolive Company has a fifty-two week low of $75.96 and a fifty-two week high of $101.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 30th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter last year, the business earned $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive Company will post 3.92 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 83.14%.

Colgate-Palmolive Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.