RHS Financial LLC Takes $648,000 Position in Colgate-Palmolive Company $CL

RHS Financial LLC purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,066 shares of the company’s stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Citizens Financial Group Inc. RI lifted its holdings in shares of Colgate-Palmolive by 14.1% during the second quarter. Citizens Financial Group Inc. RI now owns 32,021 shares of the company’s stock valued at $2,936,000 after acquiring an additional 3,963 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $572,000. Perigon Wealth Management LLC lifted its holdings in Colgate-Palmolive by 8.0% during the 2nd quarter. Perigon Wealth Management LLC now owns 21,327 shares of the company’s stock valued at $1,955,000 after purchasing an additional 1,587 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Colgate-Palmolive by 203.2% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 102,868 shares of the company’s stock worth $9,431,000 after buying an additional 68,938 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Colgate-Palmolive in the second quarter valued at approximately $2,450,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.4%

Shares of NYSE CL opened at $91.45 on Wednesday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The firm has a market capitalization of $72.90 billion, a P/E ratio of 36.29, a P/E/G ratio of 4.48 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company’s 50 day simple moving average is $91.83 and its 200 day simple moving average is $90.10.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. On average, analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 84.13%.

Analysts Set New Price Targets

CL has been the topic of a number of research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays increased their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company raised their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Transactions at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.