Smith Salley Wealth Management Has $10.69 Million Holdings in Colgate-Palmolive Company $CL

Smith Salley Wealth Management lifted its position in Colgate-Palmolive Company (NYSE:CL) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,425 shares of the company’s stock after buying an additional 8,959 shares during the quarter. Smith Salley Wealth Management’s holdings in Colgate-Palmolive were worth $10,690,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC lifted its stake in Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after acquiring an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Colgate-Palmolive by 2.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after acquiring an additional 113 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the last quarter. Sunpointe LLC increased its stake in shares of Colgate-Palmolive by 4.0% during the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock worth $241,000 after purchasing an additional 117 shares during the last quarter. Finally, TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CL shares. Bank of America cut their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Barclays raised their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research note on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price target on the stock. Twelve research 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, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Up 0.3%

Shares of CL opened at $89.74 on Monday. The firm has a market cap of $71.81 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 4.72 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm’s 50-day simple moving average is $87.40 and its 200 day simple moving average is $86.65.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Colgate-Palmolive Profile

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.