Advisors Capital Management LLC Has $17.66 Million Holdings in Colgate-Palmolive Company $CL

Advisors Capital Management LLC boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,935 shares of the company’s stock after purchasing an additional 7,504 shares during the quarter. Advisors Capital Management LLC’s holdings in Colgate-Palmolive were worth $17,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased 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 in the last quarter. Copia Wealth Management acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $29,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Colgate-Palmolive by 86.1% in the 2nd 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 in the last quarter. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter worth $30,000. Finally, MTM Investment Management LLC bought a new position in Colgate-Palmolive during the second quarter worth about $39,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CL shares. Morgan Stanley increased their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $94.38.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $95.52 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The company’s fifty day simple moving average is $84.94 and its 200-day simple moving average is $82.11. The firm has a market cap of $77.00 billion, a PE ratio of 36.46, a P/E/G ratio of 4.31 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the business earned $0.91 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

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.