Vivid Wealth Management LLC Invests $2.30 Million in Colgate-Palmolive (NYSE:CL)

Vivid Wealth Management LLC bought a new position in shares of Colgate-Palmolive (NYSE:CL) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 22,170 shares of the company’s stock, valued at approximately $2,301,000.

Other hedge funds have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC increased its holdings in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Gradient Investments LLC increased its holdings in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Colgate-Palmolive during the second quarter worth $68,000. Finally, Triad Wealth Partners LLC acquired a new stake in Colgate-Palmolive in the second quarter valued at $71,000. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL traded up $0.56 during mid-day trading on Monday, hitting $96.17. 1,640,265 shares of the company’s stock were exchanged, compared to its average volume of 4,336,998. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 52 week low of $72.36 and a 52 week high of $109.30. The stock’s 50-day simple moving average is $103.15 and its 200-day simple moving average is $98.06. The firm has a market cap of $78.90 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. UBS Group raised their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Finally, Barclays raised their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.53.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.