PRW Wealth Management LLC Buys New Stake in Colgate-Palmolive (CL)

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PRW Wealth Management LLC bought a new position in shares of Colgate-Palmolive (NYSE:CL) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,084 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors also recently bought and sold shares of CL. Victory Capital Management Inc. raised its position in shares of Colgate-Palmolive by 233.4% in the third quarter. Victory Capital Management Inc. now owns 300,554 shares of the company’s stock valued at $20,122,000 after buying an additional 210,412 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Colgate-Palmolive by 120.4% in the third quarter. SG Americas Securities LLC now owns 97,669 shares of the company’s stock valued at $6,539,000 after buying an additional 53,350 shares during the last quarter. MML Investors Services LLC raised its position in shares of Colgate-Palmolive by 52.0% in the third quarter. MML Investors Services LLC now owns 35,203 shares of the company’s stock valued at $2,357,000 after buying an additional 12,045 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Colgate-Palmolive by 12.8% in the third quarter. First Mercantile Trust Co. now owns 43,510 shares of the company’s stock valued at $2,913,000 after buying an additional 4,951 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its position in shares of Colgate-Palmolive by 19.5% in the third quarter. Commonwealth Bank of Australia now owns 1,728,474 shares of the company’s stock valued at $115,712,000 after buying an additional 282,367 shares during the last quarter. Institutional investors own 75.02% of the company’s stock.

Shares of CL stock opened at $66.25 on Friday. Colgate-Palmolive has a one year low of $57.41 and a one year high of $72.61. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 32.25. The company has a market cap of $57.32 billion, a P/E ratio of 22.31, a P/E/G ratio of 4.25 and a beta of 0.78.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. Colgate-Palmolive’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 2.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a dividend of $0.43 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 2.60%. Colgate-Palmolive’s dividend payout ratio is 56.57%.

In other Colgate-Palmolive news, SVP John J. Huston sold 1,512 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $66.29, for a total transaction of $100,230.48. Following the completion of the sale, the senior vice president now directly owns 75,180 shares in the company, valued at $4,983,682.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John T. Cahill sold 5,780 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total transaction of $372,578.80. Following the sale, the director now owns 27,820 shares of the company’s stock, valued at $1,793,277.20. The disclosure for this sale can be found here. Insiders have sold 51,700 shares of company stock valued at $3,419,284 in the last ninety days. 1.02% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Colgate-Palmolive in a research report on Wednesday, March 6th. They issued an “underperform” rating for the company. BNP Paribas raised shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $67.00 in a research report on Monday, February 11th. Jefferies Financial Group reissued a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a research report on Friday, February 1st. Wells Fargo & Co reissued a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, January 31st. Finally, Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.13.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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