Colgate-Palmolive Company $CL Shares Bought by AlTi Global Inc.

AlTi Global Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 286.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,737 shares of the company’s stock after purchasing an additional 8,699 shares during the period. AlTi Global Inc.’s holdings in Colgate-Palmolive were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Westside Investment Management Inc. raised its holdings in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Copia Wealth Management purchased a new position in Colgate-Palmolive during the third quarter worth about $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $30,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.2%

Colgate-Palmolive stock opened at $93.98 on Wednesday. The firm has a market capitalization of $75.75 billion, a P/E ratio of 35.87, a P/E/G ratio of 4.25 and a beta of 0.29. The stock’s fifty day simple moving average is $82.72 and its 200-day simple moving average is $81.63. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Insider Activity

In other news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CL shares. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Tuesday, December 9th. The Goldman Sachs Group reissued a “buy” rating and set a $94.00 price objective on shares of Colgate-Palmolive in a research report on Saturday, January 31st. Barclays upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Bank of America lifted their price target on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.47.

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.