North Star Asset Management Inc. Acquires New Stake in Colgate-Palmolive Company $CL

North Star Asset Management Inc. bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,442 shares of the company’s stock, valued at approximately $957,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP lifted its position in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares during the last quarter. Nebula Research & Development LLC increased its position in shares of Colgate-Palmolive by 165.5% during the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after buying an additional 6,437 shares during the period. Finally, Sei Investments Co. raised its stake in Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after buying an additional 116,968 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CL. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, TD Cowen boosted their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Stock Performance

NYSE CL opened at $90.75 on Friday. The company has a market cap of $72.34 billion, a P/E ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33. The company has a fifty day simple moving average of $92.02 and a 200 day simple moving average of $90.06. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Sell-side analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred 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 transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Corporate 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.