Pinnacle Wealth Management Advisory Group LLC Boosts Stake in Colgate-Palmolive (NYSE:CL)

Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,612 shares of the company’s stock after buying an additional 484 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Colgate-Palmolive were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vest Financial LLC boosted its holdings in shares of Colgate-Palmolive by 25.1% in the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock valued at $29,498,000 after acquiring an additional 74,337 shares during the last quarter. Central Bank & Trust Co. lifted its position in Colgate-Palmolive by 22.1% during the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock valued at $110,000 after purchasing an additional 250 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in Colgate-Palmolive by 9.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock valued at $864,000 after purchasing an additional 910 shares during the last quarter. Sarasin & Partners LLP grew its position in Colgate-Palmolive by 1.2% during the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock worth $323,115,000 after purchasing an additional 49,980 shares during the period. Finally, Cornerstone Wealth Management LLC raised its stake in shares of Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock valued at $571,000 after buying an additional 172 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, insider Jennifer Daniels sold 3,538 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at $5,054,629.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Noel R. Wallace sold 69,948 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at $24,161,117.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Daniels sold 3,538 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total value of $299,562.46. Following the transaction, the insider now owns 59,698 shares of the company’s stock, valued at $5,054,629.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,048 shares of company stock valued at $13,336,846. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $0.60 during midday trading on Wednesday, hitting $93.48. The company’s stock had a trading volume of 7,252,082 shares, compared to its average volume of 4,695,009. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $94.40. The company has a market cap of $76.69 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 3.43 and a beta of 0.40. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The business’s 50 day simple moving average is $88.64 and its 200 day simple moving average is $82.63.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. On average, analysts forecast that Colgate-Palmolive will post 3.52 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is presently 63.29%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CL shares. StockNews.com lowered Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Royal Bank of Canada upped their price objective 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. Finally, The Goldman Sachs Group initiated coverage on Colgate-Palmolive in a research report on Friday, March 1st. They set a “buy” rating and a $93.00 target price on the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.44.

About Colgate-Palmolive

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.