Edgestream Partners L.P. Purchases 2,423 Shares of Colgate-Palmolive (NYSE:CL)

Edgestream Partners L.P. boosted its position in Colgate-Palmolive (NYSE:CL) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,864 shares of the company’s stock after purchasing an additional 2,423 shares during the period. Edgestream Partners L.P.’s holdings in Colgate-Palmolive were worth $1,928,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Union Savings Bank lifted its holdings in shares of Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive during the 2nd quarter worth $25,000. Core Wealth Advisors Inc. lifted its holdings in Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after buying an additional 146 shares during the period. Rise Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $38,000. Finally, Continuum Advisory LLC increased its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $101.98 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The firm has a fifty day simple moving average of $102.61 and a two-hundred day simple moving average of $95.65. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30. The firm has a market capitalization of $83.67 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Activity

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 owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group upped their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Stifel Nicolaus increased their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. Finally, TD Cowen increased their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $102.79.

About Colgate-Palmolive

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.