6,160 Shares of Colgate-Palmolive Company $CL Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,160 shares of the company’s stock, valued at approximately $526,000.

Several other hedge funds have also added to or reduced their stakes in CL. State Street Corp boosted its stake in Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after acquiring an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Bank of America Corp DE bought a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $567,483,000. Envestnet Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 266.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock worth $380,136,000 after purchasing an additional 3,014,860 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Colgate-Palmolive by 151.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock worth $364,894,000 after purchasing an additional 2,575,530 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $98.68 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The company has a market cap of $78.44 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 4.48 and a beta of 0.31. Colgate-Palmolive Company has a 52 week low of $75.96 and a 52 week high of $101.18. The firm’s 50-day simple moving average is $90.01 and its two-hundred day simple moving average is $89.92.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. Research analysts predict that Colgate-Palmolive Company will post 3.91 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 83.14%.

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research reports. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 price objective (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Raymond James Financial increased their price objective on Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Barclays raised their target price on Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings lowered Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $101.22.

Key Stories Impacting Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Several analysts raised their price targets, and BNP Paribas Exane reaffirmed its Outperform rating. The reports include updates from Read More., Read More., Read More., and Read More.. A separate report highlighted Morgan Stanley’s expectation for strong potential appreciation. Morgan Stanley report
• Positive Sentiment: Colgate-Palmolive’s defensive consumer-staples profile and dividend history may appeal to investors seeking reliable businesses amid political uncertainty. Its recent quarterly results also beat analyst estimates, as noted in the broader discussion of dividend stocks’ resilience. Dividend Kings article
• Neutral Sentiment: Analyst views are not uniformly bullish: Barclays maintained a Hold rating even as other coverage reported a target increase. This points to some optimism about upside but continued caution on valuation or near-term prospects. Barclays rating
• Negative Sentiment: Rising oil prices and cautious U.S. consumers are pressuring consumer-goods companies’ margins, a potential headwind for Colgate-Palmolive if costs rise faster than it can pass them through. Dividend-stock comparison
• Negative Sentiment: Colgate’s valuation may also weigh on the shares: a comparison with Hershey noted that Hershey trades at a lower forward P/E despite revenue growth, making CL look less attractive to valuation-focused investors. Colgate and Hershey comparison

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.