Tyche Wealth Partners LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Tyche Wealth Partners LLC bought a new position in Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,341 shares of the company’s stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 17,457,294 shares of the company’s stock worth $1,309,583,000 after purchasing an additional 112,177 shares during the last quarter. Morgan Stanley increased its stake in shares of Colgate-Palmolive by 3.2% during the 3rd quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock worth $1,195,785,000 after purchasing an additional 514,559 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Colgate-Palmolive by 90,253.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock worth $1,258,627,000 after purchasing an additional 15,956,771 shares during the last quarter. Northern Trust Corp increased its stake in shares of Colgate-Palmolive by 0.5% during the 1st quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock worth $793,971,000 after purchasing an additional 50,040 shares during the last quarter. Finally, Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter valued at $644,715,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In related news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the transaction, the director now directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total value of $233,220.00. Following the completion of the sale, the director now owns 19,272 shares in the company, valued at approximately $1,628,484. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the transaction, the executive vice president now directly owns 8,043 shares of the company’s stock, valued at $686,470.05. The disclosure for this sale can be found here. Insiders sold 232,371 shares of company stock valued at $19,505,099 in the last ninety days. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup raised their target price on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, UBS Group raised their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL remained flat at $86.17 during midday trading on Wednesday. 3,220,548 shares of the stock were exchanged, compared to its average volume of 3,530,158. The business has a 50 day moving average price of $86.92 and a 200 day moving average price of $80.58. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.28 and a beta of 0.42. Colgate-Palmolive has a one year low of $67.62 and a one year high of $90.37. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 26th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.89 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. On average, research analysts anticipate that Colgate-Palmolive will post 3.49 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

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

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.