Lake Street Advisors Group LLC Raises Stock Position in Colgate-Palmolive (NYSE:CL)

Lake Street Advisors Group LLC raised its holdings in Colgate-Palmolive (NYSE:CL) by 38.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,930 shares of the company’s stock after purchasing an additional 1,377 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Colgate-Palmolive were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $731,843,000. Price T Rowe Associates Inc. MD boosted its stake in Colgate-Palmolive by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after buying an additional 4,625,472 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after buying an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Colgate-Palmolive in the 1st quarter worth $130,622,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 62.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,726,838 shares of the company’s stock worth $245,516,000 after acquiring an additional 1,051,845 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CL shares. TD Cowen began coverage on shares of Colgate-Palmolive in a research report on Tuesday. They set a “buy” rating and a $110.00 price objective for the company. Evercore ISI raised their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their target price on Colgate-Palmolive from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley lifted their target price on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $98.58.

Insiders Place Their Bets

In other news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded up $0.02 during midday trading on Wednesday, hitting $96.57. 4,880,324 shares of the stock were exchanged, compared to its average volume of 4,377,431. The stock has a market cap of $79.23 billion, a P/E ratio of 30.56, a PEG ratio of 3.53 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.63. The company has a 50 day moving average price of $95.68 and a 200-day moving average price of $89.89. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.54 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is 63.29%.

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.