BCS Wealth Management Takes Position in Colgate-Palmolive (NYSE:CL)

BCS Wealth Management bought a new position in Colgate-Palmolive (NYSE:CL) during the 4th quarter, HoldingsChannel reports. The fund bought 12,781 shares of the company’s stock, valued at approximately $1,162,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Gordian Advisors LLC purchased a new position in shares of Colgate-Palmolive in the third quarter valued at about $602,000. Carrera Capital Advisors increased its holdings in Colgate-Palmolive by 23.1% during the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the period. Vontobel Holding Ltd. raised its position in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after purchasing an additional 550,750 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Colgate-Palmolive by 10.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after buying an additional 32,624 shares during the period. Finally, Barclays PLC grew its position in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CL. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Finally, TD Cowen lowered their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $103.63.

Colgate-Palmolive Price Performance

Shares of CL opened at $87.02 on Tuesday. The company has a market capitalization of $71.10 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a twelve month low of $79.69 and a twelve month high of $109.30. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The firm has a 50 day moving average of $92.49 and a 200 day moving average of $97.98.

Colgate-Palmolive Dividend Announcement

The firm also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.