Colgate-Palmolive (NYSE:CL) Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,536 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Sheets Smith Wealth Management’s holdings in Colgate-Palmolive were worth $840,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $25,000. Avion Wealth lifted its holdings 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 purchasing an additional 175 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $34,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Colgate-Palmolive by 142.0% during 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 during the last quarter. Finally, West Branch Capital LLC increased its position in Colgate-Palmolive by 24.0% during the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL traded up $0.04 on Monday, reaching $92.92. The stock had a trading volume of 1,855,630 shares, compared to its average volume of 4,657,155. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $93.25. The firm has a market capitalization of $76.24 billion, a PE ratio of 29.39, a PEG ratio of 3.43 and a beta of 0.40. The firm has a 50-day moving average of $88.35 and a 200 day moving average of $82.35. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Sell-side analysts expect that Colgate-Palmolive will post 3.52 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.15%. 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 (DPR) is 63.29%.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 29,772 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the transaction, the chief executive officer now owns 301,343 shares of the company’s stock, valued at $25,330,892.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total transaction of $299,562.46. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at approximately $5,054,629.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the completion of the sale, the chief executive officer now owns 301,343 shares of the company’s stock, valued at $25,330,892.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,048 shares of company stock valued at $13,336,846. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. Barclays raised their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Evercore ISI upped their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. StockNews.com lowered Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Finally, Raymond James raised Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.44.

Colgate-Palmolive Company 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.