Avity Investment Management Inc. Makes New Investment in Colgate-Palmolive Company $CL

Avity Investment Management Inc. bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 277,122 shares of the company’s stock, valued at approximately $21,898,000. Colgate-Palmolive comprises approximately 1.5% of Avity Investment Management Inc.’s portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in Colgate-Palmolive during the 2nd quarter worth about $960,390,000. Schroder Investment Management Group raised its stake in shares of Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after acquiring an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after acquiring an additional 2,611,485 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. Finally, Amundi grew its stake in shares of Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. The trade was a 63.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 184,683 shares of company stock worth $17,486,693. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 0.1%

CL stock opened at $84.25 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a market cap of $67.59 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 3.77 and a beta of 0.28. The company has a fifty day moving average price of $91.11 and a two-hundred day moving average price of $83.38. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. Equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 79.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. The Goldman Sachs Group reissued a “buy” rating and set a $100.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 20th. Bank of America upped their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Profile

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.