Corient Private Wealth LP Makes New Investment in Colgate-Palmolive Company $CL

Corient Private Wealth LP purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 686,792 shares of the company’s stock, valued at approximately $62,967,000.

A number of other institutional investors also recently modified their holdings of CL. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its holdings in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC lifted its position in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management lifted its position in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $26,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.97 on Friday. The firm 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. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a 50-day moving average price of $92.00 and a 200 day moving average price of $90.06.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Wells Fargo & Company upped their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Barclays increased their price objective 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. Finally, UBS Group increased their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Company 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.