Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Hennion & Walsh Asset Management Inc. raised its holdings in Colgate-Palmolive (NYSE:CL) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,975 shares of the company’s stock after purchasing an additional 851 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Colgate-Palmolive were worth $2,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Legal & General Group Plc lifted its holdings in Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after buying an additional 61,413 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd grew its position in shares of Colgate-Palmolive by 4.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after acquiring an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Wells Fargo & Company lowered Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective for the company. in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insiders Place Their Bets

In other news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now owns 5,146 shares in the company, valued at $529,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of CL opened at $95.55 on Friday. Colgate-Palmolive has a 12-month low of $71.46 and a 12-month high of $109.30. The stock has a market capitalization of $78.39 billion, a P/E ratio of 30.24, a P/E/G ratio of 3.54 and a beta of 0.40. The firm’s 50 day moving average is $103.28 and its 200-day moving average is $97.85. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.09%. Colgate-Palmolive’s payout ratio is presently 63.29%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.