Empowered Funds LLC Takes $13.50 Million Position in Colgate-Palmolive Company $CL

Empowered Funds LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 147,236 shares of the company’s stock, valued at approximately $13,499,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. grew its position in Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after acquiring an additional 13,804 shares during the last quarter. SEB Asset Management AB purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $91,149,000. Brandywine Financial Group grew its holdings in shares of Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the last quarter. Conning Inc. grew its holdings in shares of Colgate-Palmolive by 10.2% in the fourth quarter. Conning Inc. now owns 426,753 shares of the company’s stock worth $33,722,000 after purchasing an additional 39,655 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock worth $625,758,000 after buying an additional 29,876 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CL. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. TD Cowen lifted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 over the last quarter. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.75 on Friday. The firm has a market cap of $72.34 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company’s 50 day moving average is $92.02 and its 200 day moving average is $90.06.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $0.92 earnings per share. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 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.