Massachusetts Wealth Management Purchases 350 Shares of Colgate-Palmolive (NYSE:CL)

Massachusetts Wealth Management increased its position in Colgate-Palmolive (NYSE:CL) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,522 shares of the company’s stock after purchasing an additional 350 shares during the quarter. Massachusetts Wealth Management’s holdings in Colgate-Palmolive were worth $1,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CL. Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $731,843,000. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after buying an additional 4,625,472 shares during the last quarter. Magellan Asset Management Ltd grew its stake in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after buying an additional 1,968,988 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Colgate-Palmolive in the 1st quarter valued at about $130,622,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Colgate-Palmolive by 461.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock valued at $93,311,000 after buying an additional 851,671 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Down 0.2 %

Shares of CL stock traded down $0.23 during trading hours on Thursday, hitting $95.89. 2,114,672 shares of the company’s stock traded hands, compared to its average volume of 4,069,581. The stock’s 50 day simple moving average is $94.17 and its 200 day simple moving average is $87.90. The stock has a market cap of $78.67 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 3.54 and a beta of 0.39. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. 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 released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CL shares. BNP Paribas started coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price on the stock. Evercore ISI increased their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Royal Bank of Canada increased their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the stock in a transaction on 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 sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Sally Massey sold 12,226 shares of the stock in a transaction on 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 sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

About Colgate-Palmolive

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.