Oppenheimer Asset Management Inc. Buys 678 Shares of Colgate-Palmolive (NYSE:CL)

Oppenheimer Asset Management Inc. lifted its stake in Colgate-Palmolive (NYSE:CL) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 27,860 shares of the company’s stock after acquiring an additional 678 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Colgate-Palmolive were worth $2,704,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Union Savings Bank grew 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 worth $25,000 after acquiring an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the 2nd quarter worth $25,000. Core Wealth Advisors Inc. grew its position in Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Colgate-Palmolive during the first quarter valued at about $38,000. Finally, 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 valued at $38,000 after buying an additional 125 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 0.8 %

NYSE CL opened at $104.59 on Wednesday. The firm has a market cap of $85.81 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The stock’s 50 day simple moving average is $102.41 and its 200 day simple moving average is $95.55. 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 released its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Analyst Ratings Changes

CL has been the topic of several research reports. TD Cowen boosted their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company cut Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price target for the company. in a report on Monday. Morgan Stanley upped their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $102.79.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the stock in a transaction on 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 transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the stock in a transaction on 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 transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 in the last three months. Insiders own 0.34% of the company’s stock.

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.