Provenance Wealth Advisors LLC Makes New Investment in Colgate-Palmolive Company $CL

Provenance Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,160 shares of the company’s stock, valued at approximately $526,000.

A number of other large investors have also recently made changes to their positions in CL. State Street Corp increased its position in shares of Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after acquiring an additional 1,010,872 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after acquiring an additional 88,917 shares during the last quarter. Amundi lifted its position in Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after acquiring an additional 1,033,918 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Colgate-Palmolive in the 2nd quarter valued at about $567,483,000. 80.41% of the stock is owned by institutional investors.

Key Headlines Impacting Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Several analysts raised their price targets, and BNP Paribas Exane reaffirmed its Outperform rating. The reports include updates from Read More., Read More., Read More., and Read More.. A separate report highlighted Morgan Stanley’s expectation for strong potential appreciation. Morgan Stanley report
• Positive Sentiment: Colgate-Palmolive’s defensive consumer-staples profile and dividend history may appeal to investors seeking reliable businesses amid political uncertainty. Its recent quarterly results also beat analyst estimates, as noted in the broader discussion of dividend stocks’ resilience. Dividend Kings article
• Neutral Sentiment: Analyst views are not uniformly bullish: Barclays maintained a Hold rating even as other coverage reported a target increase. This points to some optimism about upside but continued caution on valuation or near-term prospects. Barclays rating
• Negative Sentiment: Rising oil prices and cautious U.S. consumers are pressuring consumer-goods companies’ margins, a potential headwind for Colgate-Palmolive if costs rise faster than it can pass them through. Dividend-stock comparison
• Negative Sentiment: Colgate’s valuation may also weigh on the shares: a comparison with Hershey noted that Hershey trades at a lower forward P/E despite revenue growth, making CL look less attractive to valuation-focused investors. Colgate and Hershey comparison

Colgate-Palmolive Stock Down 0.1%

CL opened at $98.68 on Friday. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. The company’s 50-day moving average is $90.01 and its 200 day moving average is $89.92. Colgate-Palmolive Company has a fifty-two week low of $75.96 and a fifty-two week high of $101.18. The firm has a market capitalization of $78.44 billion, a P/E ratio of 38.70, a PEG ratio of 4.48 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive Company will post 3.91 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is presently 83.14%.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday. Morgan Stanley increased their price objective on Colgate-Palmolive from $104.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays raised their target price on Colgate-Palmolive from $87.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Finally, UBS Group upped their price target on Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.22.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.