Pallas Capital Advisors LLC Acquires Shares of 6,240 Colgate-Palmolive Company $CL

Pallas Capital Advisors LLC bought a new position in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, Holdings Channel.com reports. The firm bought 6,240 shares of the company’s stock, valued at approximately $572,000.

Several other hedge funds have also modified their holdings of the stock. Perigon Wealth Management LLC boosted its holdings in Colgate-Palmolive by 8.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 21,327 shares of the company’s stock worth $1,955,000 after acquiring an additional 1,587 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in Colgate-Palmolive by 203.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 102,868 shares of the company’s stock valued at $9,431,000 after purchasing an additional 68,938 shares in the last quarter. Trust Co. of Vermont acquired a new position in Colgate-Palmolive in the 2nd quarter worth $2,450,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Colgate-Palmolive by 5.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,025,671 shares of the company’s stock valued at $185,714,000 after buying an additional 101,823 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 4.1% during the second quarter. OneDigital Investment Advisors LLC now owns 6,051 shares of the company’s stock valued at $555,000 after acquiring an additional 236 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. UBS Group upped 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. 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 research report on Monday, August 3rd. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Barclays increased their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Trading Down 0.6%

Shares of NYSE CL opened at $90.94 on Thursday. The stock’s 50 day moving average price is $91.85 and its two-hundred day moving average price is $90.14. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market capitalization of $72.49 billion, a P/E ratio of 36.09, a PEG ratio of 4.28 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 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 company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 firm’s stock in a transaction dated 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 directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.

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.