Allstate Corp Buys New Holdings in Colgate-Palmolive (NYSE:CL)

Allstate Corp acquired a new position in shares of Colgate-Palmolive (NYSE:CL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,356 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC raised its holdings in Colgate-Palmolive by 9.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after purchasing an additional 910 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of Colgate-Palmolive by 5.4% in the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 3,863 shares of the company’s stock valued at $308,000 after acquiring an additional 198 shares during the period. Federated Hermes Inc. increased its holdings in shares of Colgate-Palmolive by 560.2% in the 4th quarter. Federated Hermes Inc. now owns 288,537 shares of the company’s stock valued at $22,999,000 after acquiring an additional 244,834 shares during the period. Mitchell Sinkler & Starr PA increased its holdings in shares of Colgate-Palmolive by 92.6% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock valued at $3,659,000 after acquiring an additional 22,073 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Colgate-Palmolive by 7.9% in the 4th quarter. Xponance Inc. now owns 182,775 shares of the company’s stock valued at $14,569,000 after acquiring an additional 13,342 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price objective on the stock. Bank of America lifted their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their price objective on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Morgan Stanley lifted their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Colgate-Palmolive Trading Down 0.1 %

Shares of NYSE CL traded down $0.12 on Monday, reaching $97.96. 3,265,070 shares of the company traded hands, compared to its average volume of 4,376,453. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $99.63. The company has a 50 day moving average of $95.53 and a 200 day moving average of $89.60. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The stock has a market capitalization of $80.37 billion, a PE ratio of 31.04, a P/E/G ratio of 3.54 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating 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 the consensus estimate of $4.96 billion. During the same quarter in the prior year, the company posted $0.73 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive will post 3.54 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider John W. Kooyman sold 3,497 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.