Aaron Wealth Advisors LLC Increases Holdings in Colgate-Palmolive Company $CL

Aaron Wealth Advisors LLC grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 46.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,499 shares of the company’s stock after purchasing an additional 9,359 shares during the period. Aaron Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $2,331,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after purchasing an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. increased 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. Ameriprise Financial Inc. increased its position in shares of Colgate-Palmolive by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after purchasing an additional 314,584 shares in the last quarter. Amundi increased its position in shares of Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Colgate-Palmolive by 2.8% during the third quarter. Legal & General Group Plc now owns 5,919,524 shares of the company’s stock worth $473,207,000 after purchasing an additional 162,253 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the sale, the chief financial officer owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. The trade was a 63.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 184,683 shares of company stock worth $17,486,693. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Bank of America lifted their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Citigroup lifted their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler lifted their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, TD Cowen restated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.19.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $84.57 on Tuesday. The stock has a market capitalization of $67.85 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 3.91 and a beta of 0.34. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock’s 50-day moving average price is $91.08 and its 200 day moving average price is $83.49. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s payout ratio is presently 80.92%.

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.