Proficio Capital Partners LLC Takes $608,000 Position in Colgate-Palmolive Company $CL

Proficio Capital Partners LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 6,630 shares of the company’s stock, valued at approximately $608,000.

Other hedge funds have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its holdings in 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 purchasing an additional 150 shares in the last quarter. Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $26,000. Triumph Capital Management raised its stake in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, TD Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group lifted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Royal Bank Of Canada upped their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity

In other news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm’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 completion of the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $90.97 on Friday. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The business has a 50-day moving average of $92.00 and a 200-day moving average of $90.06. The stock has a market capitalization of $72.52 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

About Colgate-Palmolive

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.