Simplicity Solutions LLC Acquires 6,275 Shares of Colgate-Palmolive (NYSE:CL)

Posted by Defense World Staff on Jul 17th, 2023

Simplicity Solutions LLC lifted its position in shares of Colgate-Palmolive (NYSE:CL – Free Report) by 54.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,874 shares of the company’s stock after purchasing an additional 6,275 shares during the period. Simplicity Solutions LLC’s holdings in Colgate-Palmolive were worth $1,343,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $27,000. RFP Financial Group LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $33,000. WFA of San Diego LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $35,000. Arcus Capital Partners LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $39,000. Finally, Kepos Capital LP purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $40,000. 79.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Stephen I. Sadove sold 12,032 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $81.37, for a total value of $979,043.84. Following the transaction, the director now owns 11,866 shares in the company, valued at approximately $965,536.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Colgate-Palmolive news, Director Stephen I. Sadove sold 12,032 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $81.37, for a total transaction of $979,043.84. Following the transaction, the director now owns 11,866 shares in the company, valued at approximately $965,536.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Daniels sold 24,703 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $79.70, for a total transaction of $1,968,829.10. Following the transaction, the insider now owns 52,769 shares in the company, valued at approximately $4,205,689.30. The disclosure for this sale can be found here. Insiders have sold a total of 187,748 shares of company stock worth $15,138,660 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CL shares. Citigroup raised their price objective on shares of Colgate-Palmolive from $88.00 to $92.00 in a report on Monday, May 1st. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, May 28th. Bank of America lifted their target price on shares of Colgate-Palmolive from $80.00 to $85.00 in a research report on Monday, May 1st. Royal Bank of Canada boosted their price objective on shares of Colgate-Palmolive from $82.00 to $83.00 in a report on Monday, May 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 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. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.75.

Colgate-Palmolive Stock Up 0.8 %

NYSE:CL opened at $76.44 on Monday. The firm’s 50-day moving average price is $77.22 and its 200-day moving average price is $75.99. The company has a market capitalization of $63.41 billion, a PE ratio of 39.81, a P/E/G ratio of 3.89 and a beta of 0.50. The company has a debt-to-equity ratio of 20.87, a current ratio of 1.23 and a quick ratio of 0.76. Colgate-Palmolive has a 1-year low of $67.84 and a 1-year high of $83.81.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared 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. This represents a $1.92 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, July 20th. Colgate-Palmolive’s payout ratio is 100.00%.

About Colgate-Palmolive

(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.