Hennessy Advisors Inc. Invests $4.85 Million in Colgate-Palmolive (NYSE:CL)


Share on StockTwits

Hennessy Advisors Inc. acquired a new position in Colgate-Palmolive (NYSE:CL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,500 shares of the company’s stock, valued at approximately $4,848,000.

Several other institutional investors have also added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC increased its position in shares of Colgate-Palmolive by 15.8% in the first quarter. Villere ST Denis J & Co. LLC now owns 109,945 shares of the company’s stock worth $8,666,000 after acquiring an additional 14,967 shares in the last quarter. IFG Advisory LLC grew its holdings in Colgate-Palmolive by 17.6% during the 1st quarter. IFG Advisory LLC now owns 2,876 shares of the company’s stock valued at $226,000 after purchasing an additional 430 shares in the last quarter. RFG Advisory LLC grew its holdings in Colgate-Palmolive by 16.5% during the 1st quarter. RFG Advisory LLC now owns 4,882 shares of the company’s stock valued at $385,000 after purchasing an additional 690 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in Colgate-Palmolive by 24.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 29,543 shares of the company’s stock valued at $2,329,000 after purchasing an additional 5,780 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. grew its holdings in Colgate-Palmolive by 3.3% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 28,805 shares of the company’s stock valued at $2,271,000 after purchasing an additional 930 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 2,961 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $77.30, for a total value of $228,885.30. Following the completion of the transaction, the chief executive officer now directly owns 203,464 shares in the company, valued at $15,727,767.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Daniels sold 20,692 shares of the firm’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $78.65, for a total transaction of $1,627,425.80. Following the completion of the transaction, the insider now owns 55,585 shares of the company’s stock, valued at $4,371,760.25. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock worth $2,418,650 in the last ninety days. Corporate insiders own 0.78% of the company’s stock.

A number of research firms recently weighed in on CL. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 price target for the company. in a report on Thursday, January 28th. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, January 19th. They set an “underperform” rating and a $77.00 price target for the company. Royal Bank of Canada downgraded shares of Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 price objective on the stock. in a research note on Monday, January 4th. Finally, Credit Suisse Group upgraded shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $80.00 in a research note on Monday, February 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $82.17.

Shares of NYSE:CL opened at $81.15 on Thursday. The company has a market cap of $68.78 billion, a PE ratio of 25.93, a P/E/G ratio of 3.83 and a beta of 0.59. The company’s 50-day moving average price is $77.81 and its 200 day moving average price is $80.65. Colgate-Palmolive has a fifty-two week low of $65.54 and a fifty-two week high of $86.41. The company has a quick ratio of 0.62, a current ratio of 0.97 and a debt-to-equity ratio of 6.50.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Thursday, January 28th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. Colgate-Palmolive’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Wednesday, April 21st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, April 20th. This represents a $1.80 annualized dividend and a dividend yield of 2.22%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.44. Colgate-Palmolive’s payout ratio is currently 62.19%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.

Featured Article: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.