Cypress Asset Management Inc. TX Boosts Stake in Colgate-Palmolive Company $CL

Cypress Asset Management Inc. TX grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 71.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,585 shares of the company’s stock after acquiring an additional 15,669 shares during the period. Cypress Asset Management Inc. TX’s holdings in Colgate-Palmolive were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LP boosted its position in shares of Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock worth $58,639,000 after acquiring an additional 143,812 shares during the last quarter. Brandywine Financial Group boosted its holdings in shares of Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after purchasing an additional 72,649 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive during the second quarter valued at about $567,483,000. SEB Asset Management AB bought a new stake in shares of Colgate-Palmolive in the first quarter worth about $91,149,000. Finally, Robinhood Asset Management LLC bought a new position in Colgate-Palmolive during the second quarter valued at approximately $11,554,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup boosted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Barclays increased their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.65.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was 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 trade represents a 12.81% 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 worth $16,110,903. 0.43% of the stock is currently owned by company insiders.

Colgate-Palmolive Trading Up 1.0%

Shares of CL opened at $88.07 on Friday. The company’s fifty day simple moving average is $89.16 and its 200-day simple moving average is $88.77. The company has a market cap of $70.21 billion, a P/E ratio of 34.95, a P/E/G ratio of 4.07 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.