Carnegie Capital Asset Management LLC Purchases 2,201 Shares of Colgate-Palmolive (NYSE:CL)

Carnegie Capital Asset Management LLC increased its holdings in Colgate-Palmolive (NYSE:CL) by 11.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,310 shares of the company’s stock after buying an additional 2,201 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Colgate-Palmolive were worth $1,699,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Colgate-Palmolive in the 3rd quarter worth $25,000. 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 last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $34,000. Quarry LP lifted its stake in Colgate-Palmolive by 48.2% during the second quarter. Quarry LP now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 145 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $86.17 on Tuesday. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $90.37. The stock’s 50 day simple moving average is $86.87 and its two-hundred day simple moving average is $80.48. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 3.26 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.89 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.49 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a $0.50 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is presently 69.06%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CL shares. UBS Group upped their target price on Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Evercore ISI increased their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Raymond James raised Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price for the company in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Insider Activity at Colgate-Palmolive

In other news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the completion of the sale, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $85.35, for a total value of $762,175.50. Following the completion of the transaction, the executive vice president now owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The disclosure for this sale can be found here. Insiders sold a total of 232,371 shares of company stock valued at $19,505,099 in the last 90 days. Corporate insiders own 0.37% 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.