J.P. Morgan Private Wealth Advisors LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

J.P. Morgan Private Wealth Advisors LLC bought a new stake in Colgate-Palmolive (NYSE:CLFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 118,281 shares of the company’s stock, valued at approximately $8,411,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Colgate-Palmolive by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock worth $185,376,000 after buying an additional 94,837 shares during the last quarter. Covestor Ltd boosted its holdings in Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock valued at $186,000 after acquiring an additional 1,025 shares during the period. Mackenzie Financial Corp grew its position in shares of Colgate-Palmolive by 8.5% in the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock valued at $142,774,000 after purchasing an additional 146,936 shares during the last quarter. First Western Trust Bank bought a new position in shares of Colgate-Palmolive in the first quarter worth about $569,000. Finally, Wsfs Capital Management LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $288,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CL shares. Morgan Stanley upped their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Sanford C. Bernstein decreased their price target on shares of Colgate-Palmolive from $82.00 to $76.00 in a research report on Thursday, October 12th. Citigroup cut their price objective on shares of Colgate-Palmolive from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 11th. UBS Group lifted their target price on Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Barclays upped their price target on Colgate-Palmolive from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.93.

Check Out Our Latest Stock Report on Colgate-Palmolive

Colgate-Palmolive Trading Down 0.4 %

Shares of CL stock opened at $83.74 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 21.40. The company has a market capitalization of $68.95 billion, a P/E ratio of 30.12, a P/E/G ratio of 3.72 and a beta of 0.42. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $86.14. The firm has a 50-day moving average price of $80.06 and a 200 day moving average price of $76.15.

Colgate-Palmolive (NYSE:CLGet Free Report) last announced its earnings results on Friday, January 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $0.77 EPS. Colgate-Palmolive’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that Colgate-Palmolive will post 3.48 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, January 22nd will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, January 19th. Colgate-Palmolive’s dividend payout ratio is presently 69.06%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $77.83, for a total value of $1,167,450.00. Following the transaction, the insider now directly owns 12,371 shares in the company, valued at approximately $962,834.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $77.83, for a total value of $1,167,450.00. Following the transaction, the insider now directly owns 12,371 shares in the company, valued at $962,834.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Daniels sold 61,633 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the sale, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,123 shares of company stock worth $7,635,941. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company Profile

(Free Report)

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 offers 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 related items.

Further Reading

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

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