Marcum Wealth LLC Grows Holdings in Colgate-Palmolive (NYSE:CL)

Marcum Wealth LLC boosted its holdings in Colgate-Palmolive (NYSE:CL) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,389 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Marcum Wealth LLC’s holdings in Colgate-Palmolive were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Ballentine Partners LLC raised its holdings in Colgate-Palmolive by 37.2% during the 4th quarter. Ballentine Partners LLC now owns 8,902 shares of the company’s stock valued at $710,000 after buying an additional 2,413 shares during the period. International Assets Investment Management LLC increased its stake in Colgate-Palmolive by 8,664.4% in the fourth quarter. International Assets Investment Management LLC now owns 287,473 shares of the company’s stock worth $22,914,000 after purchasing an additional 284,193 shares during the period. Arkadios Wealth Advisors increased its stake in Colgate-Palmolive by 14.5% in the fourth quarter. Arkadios Wealth Advisors now owns 5,055 shares of the company’s stock worth $403,000 after purchasing an additional 641 shares during the period. Nilsine Partners LLC increased its stake in Colgate-Palmolive by 1.9% in the fourth quarter. Nilsine Partners LLC now owns 8,482 shares of the company’s stock worth $676,000 after purchasing an additional 156 shares during the period. Finally, Legacy Trust increased its stake in Colgate-Palmolive by 5.3% in the fourth quarter. Legacy Trust now owns 6,809 shares of the company’s stock worth $543,000 after purchasing an additional 342 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Argus increased their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Wells Fargo & Company increased their target price on Colgate-Palmolive from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Evercore ISI increased their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Stifel Nicolaus increased their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $101.11.

Colgate-Palmolive Stock Performance

CL stock traded down $1.84 during trading on Monday, hitting $100.97. 5,927,317 shares of the company traded hands, compared to its average volume of 4,444,042. The stock’s 50-day simple moving average is $96.49 and its 200 day simple moving average is $90.90. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.28. The company has a market cap of $82.84 billion, a PE ratio of 31.81, a P/E/G ratio of 3.54 and a beta of 0.39. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $104.15.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. On average, equities analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Colgate-Palmolive news, 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 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 SEC, which is available through the SEC website. Also, 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 owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive 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.