Janney Montgomery Scott LLC Has $26.50 Million Stock Position in Colgate-Palmolive Company $CL

Janney Montgomery Scott LLC lifted its position in Colgate-Palmolive Company (NYSE:CL) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 289,021 shares of the company’s stock after buying an additional 14,282 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Colgate-Palmolive were worth $26,497,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighPoint Advisor Group LLC boosted its stake in Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC raised its stake in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after purchasing an additional 113 shares during the period. Cooper Financial Group lifted its holdings in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after buying an additional 114 shares in the last quarter. Finally, Gould Capital LLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 1.1%

Shares of Colgate-Palmolive stock opened at $91.90 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company’s fifty day simple moving average is $91.67 and its 200-day simple moving average is $89.99. The company has a market cap of $73.26 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 4.49 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

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

Colgate-Palmolive Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred 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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CL shares. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. UBS Group boosted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler increased their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.