Wealth Enhancement Advisory Services LLC Acquires 35,986 Shares of Colgate-Palmolive (NYSE:CL)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,923 shares of the company’s stock after acquiring an additional 35,986 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Colgate-Palmolive were worth $26,464,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $25,000. Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $68,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $71,000. Institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly 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 three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company cut shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective for the company. in a report on Monday, September 16th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Stock Performance

CL opened at $95.61 on Monday. The firm has a market cap of $78.44 billion, a P/E ratio of 30.26, a PEG ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $71.46 and a 1-year high of $109.30. The company has a 50 day simple moving average of $103.15 and a two-hundred day simple moving average of $98.06. 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 posted its quarterly earnings results on Friday, October 25th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.01 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Equities analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Colgate-Palmolive Profile

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.