Griffin Asset Management Inc. Boosts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Griffin Asset Management Inc. raised its position in shares of Colgate-Palmolive (NYSE:CL) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,150 shares of the company’s stock after purchasing an additional 234 shares during the period. Griffin Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Union Savings Bank boosted its holdings in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the period. Avion Wealth increased its position in shares of Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $32,000. Core Wealth Advisors Inc. boosted its position in shares of Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $34,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Down 1.2 %

NYSE:CL traded down $1.13 during midday trading on Friday, reaching $97.04. 11,036,315 shares of the stock traded hands, compared to its average volume of 3,769,464. The stock has a market capitalization of $79.62 billion, a P/E ratio of 30.69, a PEG ratio of 3.61 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The company has a fifty day moving average of $93.87 and a 200 day moving average of $87.51. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the business posted $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts predict that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Stifel Nicolaus upped their target price on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group assumed coverage on Colgate-Palmolive in a report on Friday, March 1st. They set a “buy” rating and a $93.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Finally, Barclays increased their price target on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

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.