Opal Wealth Advisors LLC Invests $223,000 in Colgate-Palmolive (NYSE:CL)

Opal Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,472 shares of the company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Union Savings Bank increased its holdings in shares of Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 134 shares during the period. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in Colgate-Palmolive in the fourth quarter worth about $32,000. Core Wealth Advisors Inc. raised its position in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in Colgate-Palmolive in the first quarter worth about $38,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent research reports. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on shares of Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 price target for the company. Royal Bank of Canada increased their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, Evercore ISI increased their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.83.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

CL opened at $97.27 on Monday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $97.67. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The company’s 50 day simple moving average is $92.71 and its 200-day simple moving average is $86.92. The stock has a market capitalization of $79.80 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.06%. Colgate-Palmolive’s payout ratio is presently 63.29%.

Colgate-Palmolive Company 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.