Advisors Capital Management LLC Acquires 7,504 Shares of Colgate-Palmolive Company $CL

Advisors Capital Management LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,935 shares of the company’s stock after buying an additional 7,504 shares during the period. Advisors Capital Management LLC’s holdings in Colgate-Palmolive were worth $17,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares during the period. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter worth about $960,390,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after buying an additional 2,572,796 shares during the period. Invesco Ltd. grew its stake in Colgate-Palmolive by 9.1% in the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after buying an additional 621,841 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after acquiring an additional 1,839,853 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $95.52 on Thursday. The company has a market cap of $77.00 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 4.31 and a beta of 0.29. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.27 and a current ratio of 0.42. The stock has a fifty day moving average price of $84.94 and a 200-day moving average price of $82.11.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were given a $0.52 dividend. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s payout ratio is presently 79.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CL. Barclays boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Morgan Stanley lifted their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Piper Sandler upped their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their target price on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $94.38.

About Colgate-Palmolive

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.