Avity Investment Management Inc. Invests $21.90 Million in Colgate-Palmolive Company $CL

Avity Investment Management Inc. acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 277,122 shares of the company’s stock, valued at approximately $21,898,000. Colgate-Palmolive accounts for 1.5% of Avity Investment Management Inc.’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Copia Wealth Management bought a new position in Colgate-Palmolive during the 3rd quarter valued at $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at $30,000. Global Wealth Strategies & Associates lifted its holdings in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the period. Grove Bank & Trust boosted its stake in Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new position in Colgate-Palmolive during the third quarter worth about $35,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CL has been the subject of several research reports. Evercore raised their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Morgan Stanley boosted their target price on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler lifted their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% 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. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the sale, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 184,683 shares of company stock worth $17,486,693 over the last 90 days. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $84.25 on Friday. The company’s fifty day moving average is $91.11 and its two-hundred day moving average is $83.38. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The firm has a market capitalization of $67.59 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 3.77 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Colgate-Palmolive Company 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.