United Asset Strategies Inc. Increases Stake in Colgate-Palmolive (CL)

United Asset Strategies Inc. grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 20.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,719 shares of the company’s stock after buying an additional 3,301 shares during the period. United Asset Strategies Inc.’s holdings in Colgate-Palmolive were worth $1,352,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc raised its position in Colgate-Palmolive by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after buying an additional 734,860 shares during the last quarter. BlackRock Inc. raised its position in Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after buying an additional 7,236,342 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Colgate-Palmolive by 3.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock worth $1,935,674,000 after buying an additional 1,000,161 shares during the last quarter. Northern Trust Corp raised its position in Colgate-Palmolive by 3.0% in the 4th quarter. Northern Trust Corp now owns 10,760,664 shares of the company’s stock worth $640,475,000 after buying an additional 309,387 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Colgate-Palmolive by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after buying an additional 768,550 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

In other Colgate-Palmolive news, CTO Patricia Verduin sold 2,218 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.38, for a total value of $147,230.84. Following the completion of the transaction, the chief technology officer now directly owns 48,671 shares in the company, valued at approximately $3,230,780.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Sadove sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $71.55, for a total value of $572,400.00. Following the completion of the transaction, the director now owns 39,441 shares of the company’s stock, valued at $2,822,003.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,831 shares of company stock valued at $24,752,192. Corporate insiders own 1.14% of the company’s stock.

Colgate-Palmolive stock opened at $71.50 on Friday. The stock has a market cap of $61.38 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 4.64 and a beta of 0.81. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $72.85. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 32.25.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, April 17th. Colgate-Palmolive’s payout ratio is currently 57.91%.

A number of brokerages have weighed in on CL. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, May 7th. Macquarie boosted their target price on Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Morgan Stanley boosted their target price on Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Jefferies Financial Group boosted their target price on Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded Colgate-Palmolive from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $62.00 to $70.00 in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $69.69.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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