Robinhood Asset Management LLC Takes $11.55 Million Position in Colgate-Palmolive Company $CL

Robinhood Asset Management LLC acquired a new position in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 126,023 shares of the company’s stock, valued at approximately $11,554,000.

Several other institutional investors have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares in the last quarter. Triumph Capital Management grew its position in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.5%

CL stock opened at $91.02 on Friday. The company’s 50 day moving average price is $91.89 and its 200 day moving average price is $90.14. The firm has a market capitalization of $72.56 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.19 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CL. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Citigroup increased 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. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive 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.