Concord Wealth Partners Has $1.62 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Concord Wealth Partners grew its holdings in Colgate-Palmolive (NYSE:CL) by 53.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,814 shares of the company’s stock after acquiring an additional 6,196 shares during the quarter. Concord Wealth Partners’ holdings in Colgate-Palmolive were worth $1,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CL. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive during the fourth quarter worth approximately $32,000. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $42,000. Synergy Asset Management LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth $49,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive in the third quarter worth $53,000. Finally, Prospera Private Wealth LLC acquired a new position in Colgate-Palmolive in the third quarter valued at about $64,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 4.7 %

CL opened at $86.64 on Friday. The firm has a market capitalization of $70.78 billion, a PE ratio of 24.82, a P/E/G ratio of 3.70 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The company’s 50-day moving average is $91.35 and its 200 day moving average is $97.17.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.27% and a return on equity of 405.81%. During the same quarter in the prior year, the business posted $0.87 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.58 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen decreased their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a report on Friday, January 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.00.

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.