Odyssean LLC Raises Stake in Colgate-Palmolive Company $CL

Odyssean LLC grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 236.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,316 shares of the company’s stock after buying an additional 9,353 shares during the period. Odyssean LLC’s holdings in Colgate-Palmolive were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CL. Kemnay Advisory Services Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive in the 4th quarter valued at $26,000. Triumph Capital Management increased its stake in 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 buying an additional 127 shares during the period. Finally, TD Capital Management LLC increased its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on 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 transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 362,231 shares in the company, 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. Over the last ninety days, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. TD Cowen raised their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Piper Sandler increased their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley restated an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, UBS Group lifted their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $88.80 on Friday. The firm’s fifty day simple moving average is $91.88 and its 200-day simple moving average is $89.87. 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 $70.79 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 4.20 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 announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 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 firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s 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.