Proficio Capital Partners LLC Invests $608,000 in Colgate-Palmolive Company $CL

Proficio Capital Partners LLC acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,630 shares of the company’s stock, valued at approximately $608,000.

Several other hedge funds have also recently added to or reduced their stakes in CL. Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $861,670,000. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $567,483,000. Northwestern Mutual Wealth Management Co. raised its stake in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after buying an additional 4,598,789 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive during the fourth quarter worth about $236,682,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $90.21 on Thursday. The firm’s 50 day moving average is $91.97 and its 200-day moving average is $89.92. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a market capitalization of $71.91 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.18 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is currently 84.13%.

Insider Buying and Selling

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction 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 transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. UBS Group increased their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Profile

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.