Colgate-Palmolive Company $CL Stock Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,381 shares of the company’s stock after purchasing an additional 9,881 shares during the period. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $6,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Cooper Financial Group boosted its holdings in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares during the last quarter. Gould Capital LLC grew its position in Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in Colgate-Palmolive by 2.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after buying an additional 118 shares during the last quarter. SVB Wealth LLC raised its stake in Colgate-Palmolive by 1.4% during the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock valued at $804,000 after buying an additional 119 shares during the last quarter. Finally, Sowell Financial Services LLC raised its stake in Colgate-Palmolive by 2.1% during the 3rd quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock valued at $490,000 after buying an additional 119 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, CEO Noel Wallace sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the transaction, the chief executive officer owned 359,700 shares of the company’s stock, valued at $36,063,522. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazlin sold 23,376 shares of Colgate-Palmolive stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $99.15, for a total value of $2,317,730.40. Following the transaction, the insider directly owned 27,021 shares in the company, valued at approximately $2,679,132.15. The trade was a 46.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 77,414 shares of company stock worth $7,613,786. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Raymond James Financial lifted their price objective on Colgate-Palmolive from $100.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Evercore upped their price objective on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Barclays increased their target price on Colgate-Palmolive from $87.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $101.22.

Colgate-Palmolive Trading Down 0.2%

Shares of CL stock opened at $97.84 on Friday. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.63. The company has a market cap of $77.77 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 4.44 and a beta of 0.31. Colgate-Palmolive Company has a 1 year low of $75.96 and a 1 year high of $101.18. The firm has a fifty day moving average price of $90.74 and a 200-day moving average price of $90.22.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. Colgate-Palmolive’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.92 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 83.14%.

Colgate-Palmolive Company Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.