Colgate-Palmolive (NYSE:CL) Shares Purchased by Graypoint LLC

Graypoint LLC raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 41.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,572 shares of the company’s stock after purchasing an additional 1,642 shares during the quarter. Graypoint LLC’s holdings in Colgate-Palmolive were worth $444,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $25,000. Avion Wealth lifted its position in shares of Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $34,000. Quarry LP lifted its position in Colgate-Palmolive by 48.2% in the 2nd quarter. Quarry LP now owns 446 shares of the company’s stock worth $34,000 after buying an additional 145 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Colgate-Palmolive by 142.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Daniels sold 3,538 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the sale, the insider now owns 59,698 shares of the company’s stock, valued at approximately $5,054,629.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the sale, the director now owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Daniels sold 3,538 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the sale, the insider now directly owns 59,698 shares of the company’s stock, valued at approximately $5,054,629.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,371 shares of company stock worth $19,505,099. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $85.85 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The company’s fifty day simple moving average is $86.83 and its 200-day simple moving average is $80.37. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $90.37. The firm has a market cap of $70.57 billion, a PE ratio of 30.88, a P/E/G ratio of 3.26 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.89 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. Equities research analysts expect that Colgate-Palmolive will post 3.49 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.33%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 71.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Barclays increased their target price on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, January 26th. Finally, The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a report on Friday, March 1st. They set a “buy” rating and a $93.00 price target on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

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.