Van ECK Associates Corp Boosts Stake in Colgate-Palmolive (NYSE:CL)

Posted by Defense World Staff on Aug 2nd, 2023

Van ECK Associates Corp grew its position in Colgate-Palmolive (NYSE:CL – Free Report) by 58.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,519 shares of the company’s stock after acquiring an additional 17,450 shares during the quarter. Van ECK Associates Corp’s holdings in Colgate-Palmolive were worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. WFA of San Diego LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at $35,000. Arcus Capital Partners LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth about $39,000. Kepos Capital LP bought a new stake in Colgate-Palmolive during the 4th quarter valued at about $40,000. US Asset Management LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $41,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in Colgate-Palmolive in the 4th quarter worth about $42,000. 79.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Prabha Parameswaran sold 64,373 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $80.58, for a total value of $5,187,176.34. Following the transaction, the insider now directly owns 12,427 shares of the company’s stock, valued at approximately $1,001,367.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Colgate-Palmolive news, insider Jennifer Daniels sold 24,703 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $79.70, for a total value of $1,968,829.10. Following the transaction, the insider now directly owns 52,769 shares in the company, valued at approximately $4,205,689.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Prabha Parameswaran sold 64,373 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $80.58, for a total transaction of $5,187,176.34. Following the sale, the insider now directly owns 12,427 shares in the company, valued at approximately $1,001,367.66. The disclosure for this sale can be found here. Insiders sold 175,716 shares of company stock worth $14,159,616 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Trading Up 0.5 %

Shares of Colgate-Palmolive stock opened at $76.64 on Wednesday. The stock has a market cap of $63.58 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 3.88 and a beta of 0.50. The firm has a fifty day moving average price of $76.37 and a 200 day moving average price of $75.84. Colgate-Palmolive has a 1 year low of $67.84 and a 1 year high of $83.81. The company has a debt-to-equity ratio of 20.87, a current ratio of 0.40 and a quick ratio of 0.25.

Colgate-Palmolive (NYSE:CL – Get Free Report) last released its quarterly earnings data on Friday, July 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.70 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 8.02%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Equities research analysts predict that Colgate-Palmolive will post 3.14 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 20th. Colgate-Palmolive’s payout ratio is currently 106.67%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup boosted their price target on Colgate-Palmolive from $88.00 to $92.00 in a report on Monday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday. Bank of America increased their target price on shares of Colgate-Palmolive from $80.00 to $85.00 in a report on Monday, May 1st. Evercore ISI boosted their price target on shares of Colgate-Palmolive from $85.00 to $91.00 in a report on Monday, May 1st. Finally, Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $76.00 to $81.00 in a research note on Monday, May 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.33.

Colgate-Palmolive 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.