Whitaker Myers Wealth Managers LTD. Acquires Shares of 2,417 Colgate-Palmolive (NYSE:CL)

Whitaker Myers Wealth Managers LTD. bought a new stake in shares of Colgate-Palmolive (NYSE:CL) in the 3rd quarter, Holdings Channel reports. The fund bought 2,417 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC increased its position in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $48,000. Gradient Investments LLC raised its position in shares of Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Colgate-Palmolive during the second quarter worth $68,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.4 %

NYSE CL opened at $100.46 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 1-year low of $71.46 and a 1-year high of $109.30. The firm’s fifty day simple moving average is $103.43 and its 200-day simple moving average is $97.60. The company has a market capitalization of $82.42 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.77 EPS. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th 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 1.99%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Evercore ISI raised their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Buying and Selling at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $529,729.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 over the last 90 days. Insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

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.