Stratos Wealth Partners LTD. Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Posted by Defense World Staff on Jul 17th, 2023

Stratos Wealth Partners LTD. trimmed its position in Colgate-Palmolive (NYSE:CL – Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,450 shares of the company’s stock after selling 1,499 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Colgate-Palmolive were worth $1,387,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 17,345,117 shares of the company’s stock valued at $1,365,565,000 after buying an additional 349,165 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Colgate-Palmolive by 90,253.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock valued at $1,258,627,000 after acquiring an additional 15,956,771 shares in the last quarter. Morgan Stanley boosted its stake in shares of Colgate-Palmolive by 41.7% in the fourth quarter. Morgan Stanley now owns 11,370,549 shares of the company’s stock worth $895,886,000 after acquiring an additional 3,345,297 shares during the period. First Eagle Investment Management LLC grew its position in shares of Colgate-Palmolive by 2.5% during the fourth quarter. First Eagle Investment Management LLC now owns 11,029,990 shares of the company’s stock worth $869,053,000 after purchasing an additional 269,814 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Colgate-Palmolive by 0.5% during the 1st quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock valued at $793,971,000 after purchasing an additional 50,040 shares during the period. Hedge funds and other institutional investors own 79.01% of the company’s stock.

Colgate-Palmolive Trading Up 0.8 %

CL opened at $76.44 on Monday. The company has a debt-to-equity ratio of 20.87, a quick ratio of 0.76 and a current ratio of 1.23. The stock’s 50 day moving average price is $77.22 and its 200-day moving average price is $75.99. Colgate-Palmolive has a one year low of $67.84 and a one year high of $83.81. The stock has a market cap of $63.41 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 3.89 and a beta of 0.50.

Colgate-Palmolive (NYSE:CL – Get Free Report) last released its earnings results on Friday, April 28th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.58 billion. Colgate-Palmolive had a return on equity of 348.63% and a net margin of 8.71%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, equities analysts forecast that Colgate-Palmolive will post 3.14 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be paid a $0.48 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.92 annualized dividend and a yield of 2.51%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CL. Evercore ISI increased their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 in a report on Monday, May 1st. UBS Group boosted their price target on shares of Colgate-Palmolive from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Colgate-Palmolive from $80.00 to $88.00 in a research report on Monday, May 1st. Bank of America boosted their target price on Colgate-Palmolive from $80.00 to $85.00 in a research report on Monday, May 1st. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $76.00 to $81.00 in a report on Monday, May 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.75.

Insiders Place Their Bets

In related news, Director Stephen I. Sadove sold 12,032 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $81.37, for a total value of $979,043.84. Following the completion of the sale, the director now directly owns 11,866 shares in the company, valued at $965,536.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John P. Bilbrey sold 5,703 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $80.81, for a total transaction of $460,859.43. Following the transaction, the director now directly owns 26,257 shares of the company’s stock, valued at $2,121,828.17. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen I. Sadove sold 12,032 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $81.37, for a total value of $979,043.84. Following the sale, the director now owns 11,866 shares of the company’s stock, valued at approximately $965,536.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,748 shares of company stock worth $15,138,660. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Company Profile

(Free Report)

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. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.