Westerkirk Capital Inc. Invests $1.01 Million in Colgate-Palmolive Company $CL

Westerkirk Capital Inc. bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,660 shares of the company’s stock, valued at approximately $1,012,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the last quarter. Norges Bank acquired a new stake in Colgate-Palmolive during the 2nd quarter worth $960,390,000. Diamond Hill Capital Management Inc. boosted its stake in Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares during the period. Invesco Ltd. increased its stake in Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after purchasing an additional 621,841 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Colgate-Palmolive by 42.9% in the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after purchasing an additional 1,839,853 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CL shares. UBS Group raised their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Citigroup increased their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Finally, Piper Sandler lifted their price objective on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Colgate-Palmolive Stock Up 1.2%

Colgate-Palmolive stock opened at $95.07 on Friday. The stock’s 50 day moving average price is $85.61 and its 200 day moving average price is $82.27. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a market cap of $76.63 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 4.29 and a beta of 0.29. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.Colgate-Palmolive’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s payout ratio is currently 79.39%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the sale, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Company 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.