Tyche Wealth Partners LLC Makes New $745,000 Investment in Colgate-Palmolive (NYSE:CL)

Tyche Wealth Partners LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,341 shares of the company’s stock, valued at approximately $745,000.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Colgate-Palmolive by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock worth $185,376,000 after buying an additional 94,837 shares during the last quarter. Covestor Ltd grew its holdings in shares of Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock worth $186,000 after buying an additional 1,025 shares during the last quarter. Mackenzie Financial Corp lifted its position in Colgate-Palmolive by 8.5% in the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock valued at $142,774,000 after purchasing an additional 146,936 shares during the period. First Western Trust Bank acquired a new stake in Colgate-Palmolive in the first quarter valued at about $569,000. Finally, Wsfs Capital Management LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at about $288,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CL. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, January 26th. Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price target for the company in a research report on Monday, January 29th. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group lifted their price target on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Colgate-Palmolive Price Performance

CL stock remained flat at $86.17 during midday trading on Wednesday. 3,220,548 shares of the company’s stock traded hands, compared to its average volume of 3,530,158. The company has a market cap of $70.83 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.28 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.71 and a debt-to-equity ratio of 8.59. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $90.37. The business has a 50-day moving average price of $86.92 and a 200-day moving average price of $80.58.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $0.77 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.49 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is 69.06%.

Insider Buying and Selling

In related news, Director C Martin Harris sold 2,760 shares of the company’s stock in a transaction 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 directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, Director C Martin Harris sold 2,760 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total value of $233,220.00. Following the transaction, the director now owns 19,272 shares in the company, valued at approximately $1,628,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Daniels sold 61,633 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares in the company, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. In the last three months, insiders sold 232,371 shares of company stock valued at $19,505,099. Company insiders own 0.37% of the company’s stock.

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.