Concurrent Investment Advisors LLC Boosts Holdings in Colgate-Palmolive (NYSE:CL)

Concurrent Investment Advisors LLC raised its position in Colgate-Palmolive (NYSE:CL) by 28.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,716 shares of the company’s stock after buying an additional 2,565 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $1,137,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Union Savings Bank boosted its stake in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $32,000. PSI Advisors LLC increased its holdings in shares of Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Finally, Core Wealth Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Colgate-Palmolive from $92.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Barclays lifted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Argus upped their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.11.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Up 0.7 %

Shares of NYSE CL opened at $106.50 on Monday. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $106.72. The stock’s 50-day simple moving average is $100.11 and its 200-day simple moving average is $93.75. The firm has a market cap of $87.38 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.73 and a beta of 0.39.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, July 19th. Colgate-Palmolive’s dividend 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.