Gateway Investment Advisers LLC Has $2.03 Million Stake in Colgate-Palmolive Company $CL

Gateway Investment Advisers LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 32.6% in the fourth quarter, Holdings Channel reports. The fund owned 25,650 shares of the company’s stock after buying an additional 6,305 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Colgate-Palmolive were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maseco LLP acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $27,000. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at about $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at about $30,000. Global Wealth Strategies & Associates grew its position in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 70,989 shares of company stock valued at $6,756,713 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 0.2%

Shares of CL opened at $87.53 on Friday. The stock has a market cap of $70.22 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 4.53 and a beta of 0.31. The company has a quick ratio of 0.29, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a 50-day moving average price of $87.38 and a two-hundred day moving average price of $84.34.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Equities analysts predict that Colgate-Palmolive Company will post 3.83 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CL shares. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.88.

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.