Victory Capital Management Inc. Acquires 171,434 Shares of Colgate-Palmolive Company $CL

Victory Capital Management Inc. boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,172,721 shares of the company’s stock after acquiring an additional 171,434 shares during the period. Victory Capital Management Inc. owned 0.27% of Colgate-Palmolive worth $173,687,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. This represents a 63.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last 90 days. 0.41% of the stock is owned by company insiders.

Colgate-Palmolive Trading Down 2.0%

Shares of CL stock opened at $95.34 on Wednesday. The business has a 50-day moving average price of $88.16 and a two-hundred day moving average price of $82.85. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The firm has a market cap of $76.85 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 4.39 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 the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. Equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were paid a $0.52 dividend. The ex-dividend date of this dividend was 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 79.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CL. Bank of America increased their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a report on Friday, February 13th. Jefferies Financial Group raised their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Morgan Stanley increased their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.75.

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.