Madison Asset Management LLC Has $25.10 Million Holdings in Colgate-Palmolive Company $CL

Madison Asset Management LLC grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 10.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 273,802 shares of the company’s stock after acquiring an additional 24,782 shares during the period. Madison Asset Management LLC’s holdings in Colgate-Palmolive were worth $25,102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CL. West Family Investments Inc. boosted its stake in Colgate-Palmolive by 58.1% in the 2nd quarter. West Family Investments Inc. now owns 4,054 shares of the company’s stock valued at $372,000 after purchasing an additional 1,489 shares during the period. NewEdge Wealth LLC lifted its position in Colgate-Palmolive by 18.4% during the second quarter. NewEdge Wealth LLC now owns 5,048 shares of the company’s stock worth $463,000 after purchasing an additional 786 shares during the period. Lcnb Corp acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $206,000. Essential Partners LLC boosted its holdings in shares of Colgate-Palmolive by 325.9% in the 2nd quarter. Essential Partners LLC now owns 1,942 shares of the company’s stock valued at $178,000 after purchasing an additional 1,486 shares in the last quarter. Finally, Sound Financial Strategies Group LLC acquired a new stake in Colgate-Palmolive in the second quarter valued at about $296,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% 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. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CL shares. Piper Sandler boosted their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.94 on Thursday. The firm has a market capitalization of $72.49 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The business’s fifty day simple moving average is $91.85 and its 200 day simple moving average is $90.14.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive 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.