Ritholtz Wealth Management Has $6.40 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Ritholtz Wealth Management raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 12.8% during the third quarter, HoldingsChannel.com reports. The firm owned 61,622 shares of the company’s stock after acquiring an additional 6,993 shares during the quarter. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $6,397,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. D L Carlson Investment Group Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $3,269,000. Diversify Advisory Services LLC bought a new position in Colgate-Palmolive during the 1st quarter worth approximately $911,000. TD Asset Management Inc grew its holdings in Colgate-Palmolive by 2.4% during the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock valued at $103,969,000 after purchasing an additional 26,987 shares during the period. Empowered Funds LLC increased its stake in Colgate-Palmolive by 277.3% in the first quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock valued at $2,979,000 after purchasing an additional 24,314 shares in the last quarter. Finally, M&G Plc bought a new position in shares of Colgate-Palmolive during the first quarter worth $3,812,000. Institutional investors own 80.41% of the company’s stock.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 over the last three months. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CL. Barclays upped their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. TD Cowen boosted their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Finally, Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Colgate-Palmolive Stock Up 0.9 %

Shares of NYSE CL traded up $0.86 during trading hours on Friday, hitting $100.10. The company had a trading volume of 4,858,703 shares, compared to its average volume of 4,351,980. The stock has a market capitalization of $82.13 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $68.54 and a 1-year high of $109.30. The firm’s 50 day moving average is $103.56 and its 200-day moving average is $97.15. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.00%. Colgate-Palmolive’s dividend payout ratio is 63.29%.

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.