Waverly Advisors LLC Raises Position in Colgate-Palmolive Company $CL

Waverly Advisors LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 180,975 shares of the company’s stock after acquiring an additional 10,832 shares during the quarter. Waverly Advisors LLC’s holdings in Colgate-Palmolive were worth $16,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Down 0.5%

Shares of NYSE CL opened at $88.37 on Wednesday. The firm has a 50-day simple moving average of $91.75 and a two-hundred day simple moving average of $89.72. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company has a market cap of $70.45 billion, a P/E ratio of 35.07, a PEG ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. Piper Sandler boosted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citigroup raised their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, TD Cowen lifted their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.