Massachusetts Financial Services Co. MA Increases Stock Position in Colgate-Palmolive Company $CL

Massachusetts Financial Services Co. MA grew its stake in Colgate-Palmolive Company (NYSE:CL) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,768,425 shares of the company’s stock after buying an additional 60,159 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.60% of Colgate-Palmolive worth $458,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. Triumph Capital Management increased its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive in the fourth quarter valued at $26,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Finally, Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Insider Transactions at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $91.90 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a market cap of $73.26 billion, a PE ratio of 36.47, a PEG ratio of 4.54 and a beta of 0.33. The company’s fifty day moving average is $91.67 and its 200 day moving average is $89.99. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive Company 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.