57,248 Shares in Colgate-Palmolive Company $CL Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new position in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 57,248 shares of the company’s stock, valued at approximately $5,248,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp boosted its stake in shares of Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Colgate-Palmolive during the 2nd quarter valued at $567,483,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive in the 4th quarter worth $236,682,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Citigroup lifted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $90.75 on Friday. The company’s fifty day simple moving average is $92.02 and its two-hundred day simple moving average is $90.06. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market cap of $72.34 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 4.25 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 (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.36 billion. During the same period last year, the firm earned $0.92 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Insider Activity

In related news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company’s stock.

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.