Smith Salley Wealth Management Sells 9,321 Shares of Colgate-Palmolive Company $CL

Smith Salley Wealth Management reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 116,466 shares of the company’s stock after selling 9,321 shares during the period. Smith Salley Wealth Management’s holdings in Colgate-Palmolive were worth $9,203,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maseco LLP purchased a new position in Colgate-Palmolive during the 4th quarter worth $27,000. Copia Wealth Management purchased a new stake in shares of Colgate-Palmolive in the third quarter valued at about $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive during the third quarter valued at about $30,000. Global Wealth Strategies & Associates boosted its holdings in Colgate-Palmolive by 300.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Grove Bank & Trust grew its position in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after purchasing an additional 263 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of several analyst reports. UBS Group decreased their price objective on shares of Colgate-Palmolive from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of Colgate-Palmolive in a report on Friday, February 20th. Morgan Stanley increased their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Evercore boosted their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Piper Sandler reduced their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $95.44.

Colgate-Palmolive Stock Up 0.0%

Colgate-Palmolive stock opened at $85.83 on Monday. The firm has a 50 day moving average price of $89.99 and a 200-day moving average price of $83.77. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a market capitalization of $68.86 billion, a P/E ratio of 32.76, a P/E/G ratio of 4.28 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. Colgate-Palmolive’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the transaction, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

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.