Pallas Capital Advisors LLC Buys Shares of 6,240 Colgate-Palmolive Company $CL

Pallas Capital Advisors LLC bought 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 fund bought 6,240 shares of the company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC increased its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management raised its holdings in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction 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 sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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 in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. 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. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Trading Down 0.6%

NYSE CL opened at $90.94 on Thursday. The company has a market cap of $72.49 billion, a P/E ratio of 36.09, a P/E/G ratio of 4.28 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. 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 has a 50-day moving average of $91.85 and a 200-day moving average of $90.14.

Colgate-Palmolive (NYSE:CL) last released 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. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 84.13%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CL shares. Citigroup lifted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.