Strategy Asset Managers LLC Makes New $278,000 Investment in Colgate-Palmolive (NYSE:CL)

Strategy Asset Managers LLC bought a new stake in Colgate-Palmolive (NYSE:CL – Get Rating) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,665 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds have also recently modified their holdings of the company. Horan Securities Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $30,000. TAP Consulting LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $40,000. Widmann Financial Services Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $42,000. Shore Point Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $43,000. Finally, Crewe Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $43,000. 78.12% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b” rating in a research note on Friday, April 29th. Atlantic Securities lowered shares of Colgate-Palmolive from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $80.00 in a research note on Tuesday, May 3rd. Raymond James initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, April 7th. They set a “market perform” rating on the stock. Barclays decreased their target price on shares of Colgate-Palmolive from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $86.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average price target of $84.71.

CL opened at $77.91 on Thursday. The company has a debt-to-equity ratio of 10.42, a current ratio of 1.09 and a quick ratio of 0.67. The company’s 50-day moving average is $77.83 and its 200 day moving average is $79.10. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61. The firm has a market capitalization of $65.28 billion, a P/E ratio of 32.19, a PEG ratio of 5.00 and a beta of 0.56.

Colgate-Palmolive (NYSE:CL – Get Rating) last released its quarterly earnings results on Friday, April 29th. The company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Colgate-Palmolive had a net margin of 11.70% and a return on equity of 296.77%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period last year, the firm earned $0.80 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive will post 3.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 21st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, July 20th. Colgate-Palmolive’s dividend payout ratio is 77.69%.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback program on Thursday, March 10th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

In other Colgate-Palmolive news, insider John W. Kooyman sold 19,683 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $78.49, for a total value of $1,544,918.67. Following the completion of the transaction, the insider now owns 7,007 shares of the company’s stock, valued at approximately $549,979.43. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Philip G. Shotts sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $78.52, for a total transaction of $785,200.00. Following the completion of the transaction, the vice president now directly owns 46,094 shares of the company’s stock, valued at approximately $3,619,300.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,683 shares of company stock worth $6,297,119. Insiders own 0.31% of the company’s stock.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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