Colgate-Palmolive (NYSE:CL) Shares Acquired by Financial Architects Inc
Financial Architects Inc grew its holdings in Colgate-Palmolive (NYSE:CL) by 96.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,109 shares of the company’s stock after purchasing an additional 1,524 shares during the quarter. Financial Architects Inc’s holdings in Colgate-Palmolive were worth $206,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CL. Ieq Capital LLC boosted its position in Colgate-Palmolive by 2.2% during the first quarter. Ieq Capital LLC now owns 7,544 shares of the company’s stock worth $501,000 after acquiring an additional 166 shares during the last quarter. Buckingham Asset Management LLC boosted its position in Colgate-Palmolive by 4.0% during the first quarter. Buckingham Asset Management LLC now owns 24,976 shares of the company’s stock worth $1,657,000 after acquiring an additional 968 shares during the last quarter. Private Capital Group LLC boosted its position in Colgate-Palmolive by 64.3% during the first quarter. Private Capital Group LLC now owns 4,564 shares of the company’s stock worth $303,000 after acquiring an additional 1,786 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $220,000. Finally, Decatur Capital Management Inc. acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $2,894,000. Institutional investors and hedge funds own 77.84% of the company’s stock.
Colgate-Palmolive stock traded up $1.89 during midday trading on Friday, hitting $68.95. 7,937,340 shares of the stock were exchanged, compared to its average volume of 5,265,670. The company has a 50 day moving average price of $69.16 and a two-hundred day moving average price of $69.53. The firm has a market cap of $58.83 billion, a P/E ratio of 23.53, a P/E/G ratio of 4.56 and a beta of 0.60. Colgate-Palmolive has a 1 year low of $58.49 and a 1 year high of $77.41. The company has a debt-to-equity ratio of 21.51, a current ratio of 0.96 and a quick ratio of 0.66.
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.44 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.76 annualized dividend and a dividend yield of 2.55%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.43. Colgate-Palmolive’s payout ratio is presently 62.19%.
A number of brokerages recently issued reports on CL. Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Bank of America upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Friday, March 20th. Citigroup lifted their price target on shares of Colgate-Palmolive from $71.00 to $78.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, TheStreet lowered shares of Colgate-Palmolive from a “b” rating to a “c+” rating in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.60.
In other news, Director Michael B. Polk sold 3,115 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $68.08, for a total value of $212,069.20. Following the completion of the transaction, the director now directly owns 20,622 shares of the company’s stock, valued at approximately $1,403,945.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Philip G. Shotts sold 666 shares of Colgate-Palmolive stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.61, for a total transaction of $50,356.26. Following the completion of the transaction, the vice president now directly owns 41,158 shares of the company’s stock, valued at $3,111,956.38. The disclosure for this sale can be found here. Insiders sold a total of 80,132 shares of company stock valued at $5,774,879 in the last three months. Insiders own 0.78% of the company’s stock.
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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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