Wealthfront Advisers LLC Buys 41,712 Shares of Colgate-Palmolive Company $CL

Wealthfront Advisers LLC lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 15.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 305,090 shares of the company’s stock after buying an additional 41,712 shares during the quarter. Wealthfront Advisers LLC’s holdings in Colgate-Palmolive were worth $27,971,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Main Street Financial Solutions LLC purchased a new position in Colgate-Palmolive during the second quarter valued at $384,000. RHS Financial LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter worth $648,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Colgate-Palmolive by 14.1% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 32,021 shares of the company’s stock valued at $2,936,000 after purchasing an additional 3,963 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Colgate-Palmolive during the second quarter valued at about $572,000. Finally, Perigon Wealth Management LLC grew its position in shares of Colgate-Palmolive by 8.0% during the second quarter. Perigon Wealth Management LLC now owns 21,327 shares of the company’s stock valued at $1,955,000 after purchasing an additional 1,587 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CL. UBS Group boosted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Piper Sandler lifted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Up 1.4%

Shares of NYSE:CL opened at $91.45 on Wednesday. The company has a market cap of $72.90 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 4.48 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company has a 50-day moving average price of $91.83 and a 200 day moving average price of $90.10.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share 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 in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Insiders Place Their Bets

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by 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.