Envestnet Asset Management Inc. Boosts Holdings in Colgate-Palmolive Company $CL

Envestnet Asset Management Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 18.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 800,554 shares of the company’s stock after buying an additional 122,202 shares during the period. Envestnet Asset Management Inc.’s holdings in Colgate-Palmolive were worth $63,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in Colgate-Palmolive by 4,502.2% during the third quarter. Hantz Financial Services Inc. now owns 74,371 shares of the company’s stock worth $5,945,000 after acquiring an additional 72,755 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in Colgate-Palmolive by 13.1% in the third quarter. Ashton Thomas Private Wealth LLC now owns 18,931 shares of the company’s stock valued at $1,513,000 after acquiring an additional 2,194 shares during the period. Physician Wealth Advisors Inc. boosted its position in Colgate-Palmolive by 8,628.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 611 shares of the company’s stock worth $49,000 after purchasing an additional 604 shares in the last quarter. Peak Retirement Planning Inc. grew its stake in shares of Colgate-Palmolive by 42.9% during the 3rd quarter. Peak Retirement Planning Inc. now owns 22,404 shares of the company’s stock worth $1,791,000 after purchasing an additional 6,723 shares during the period. Finally, Money Concepts Capital Corp increased its holdings in shares of Colgate-Palmolive by 29.5% during the 3rd quarter. Money Concepts Capital Corp now owns 61,090 shares of the company’s stock valued at $4,884,000 after purchasing an additional 13,902 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $94.48 on Monday. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $82.13 and its 200-day simple moving average is $81.55. The company has a market cap of $76.16 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 4.26 and a beta of 0.29. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CL shares. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Raymond James Financial dropped their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada raised Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.47.

About Colgate-Palmolive

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.