Proficio Capital Partners LLC Acquires Shares of 6,630 Colgate-Palmolive Company $CL

Proficio Capital Partners LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,630 shares of the company’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pure Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $1,237,000. Transamerica Financial Advisors LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter valued at $1,064,000. Corient Private Wealth LP acquired a new stake in Colgate-Palmolive during the 2nd quarter valued at $62,967,000. Ausdal Financial Partners Inc. bought a new position in Colgate-Palmolive during the second quarter worth $446,000. Finally, Bank of America Corp DE bought a new position in Colgate-Palmolive during the second quarter worth $567,483,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Finally, Barclays upped their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Down 1.2%

CL stock opened at $90.97 on Friday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company’s 50-day simple moving average is $92.00 and its 200 day simple moving average is $90.06. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market capitalization of $72.52 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.