Proficio Capital Partners LLC Purchases New Holdings in Colgate-Palmolive Company $CL

Proficio Capital Partners LLC bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,630 shares of the company’s stock, valued at approximately $608,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after buying an additional 304,426 shares in the last quarter. Morgan Stanley grew its holdings in Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after acquiring an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp raised its position in Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares during the last quarter. Norges Bank bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $861,670,000. Finally, Deutsche Bank AG lifted its position in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CL shares. Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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 directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on 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 sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 in the last quarter. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Up 0.6%

Shares of CL stock opened at $90.21 on Thursday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a 50-day simple moving average of $91.97 and a two-hundred day simple moving average of $89.92. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company has a market capitalization of $71.91 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 4.18 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Research analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal 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 given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 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.