WealthPlan Investment Management LLC Acquires 20,423 Shares of Colgate-Palmolive Company $CL

WealthPlan Investment Management LLC grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 896.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,701 shares of the company’s stock after buying an additional 20,423 shares during the period. WealthPlan Investment Management LLC’s holdings in Colgate-Palmolive were worth $1,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CL. Cooper Financial Group increased its holdings in shares of Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after buying an additional 114 shares during the last quarter. Gould Capital LLC boosted its holdings in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in shares of Colgate-Palmolive by 2.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock worth $397,000 after purchasing an additional 118 shares during the last quarter. SVB Wealth LLC increased its stake in shares of Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after buying an additional 119 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in Colgate-Palmolive by 32.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 486 shares of the company’s stock valued at $42,000 after buying an additional 120 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.0%

Shares of CL stock traded down $0.03 during midday trading on Thursday, reaching $92.75. 3,646,345 shares of the stock were exchanged, compared to its average volume of 5,660,953. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company’s 50 day moving average is $89.04 and its two-hundred day moving average is $88.93. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm has a market cap of $73.94 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CL. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. UBS Group set a $106.00 target price on shares of Colgate-Palmolive in a report on Thursday. Citigroup raised their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. TD Cowen boosted their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.95.

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.