Congress Wealth Management LLC DE Invests $10.30 Million in Colgate-Palmolive (NYSE:CL)

Congress Wealth Management LLC DE acquired a new position in Colgate-Palmolive (NYSE:CLGet Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 120,749 shares of the company’s stock, valued at approximately $10,304,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Planning Partners Inc. boosted its holdings in shares of Colgate-Palmolive by 1.3% in the 4th quarter. Avantax Planning Partners Inc. now owns 9,719 shares of the company’s stock valued at $829,000 after buying an additional 129 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 3.4% in the 4th quarter. Meridian Wealth Management LLC now owns 3,946 shares of the company’s stock valued at $337,000 after buying an additional 131 shares during the last quarter. Somerset Trust Co boosted its holdings in shares of Colgate-Palmolive by 0.5% in the 4th quarter. Somerset Trust Co now owns 25,737 shares of the company’s stock valued at $2,196,000 after buying an additional 132 shares during the last quarter. Grimes & Company Inc. boosted its holdings in shares of Colgate-Palmolive by 1.0% in the 4th quarter. Grimes & Company Inc. now owns 13,098 shares of the company’s stock valued at $1,118,000 after buying an additional 135 shares during the last quarter. Finally, Coastal Bridge Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 1.8% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 7,974 shares of the company’s stock valued at $603,000 after buying an additional 138 shares during the last quarter. 77.15% of the stock is currently owned by institutional investors.

In other Colgate-Palmolive news, Director John P. Bilbrey sold 4,917 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $78.66, for a total transaction of $386,771.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Daniels sold 40,580 shares of the stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $82.93, for a total value of $3,365,299.40. The disclosure for this sale can be found here. Insiders sold 127,080 shares of company stock worth $10,443,094 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Shares of Colgate-Palmolive stock traded down $0.05 on Friday, hitting $80.94. The stock had a trading volume of 7,663,657 shares, compared to its average volume of 6,528,785. The stock has a 50 day moving average of $77.17 and a 200 day moving average of $78.72. Colgate-Palmolive has a twelve month low of $72.20 and a twelve month high of $85.61. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.67 and a current ratio of 1.09. The firm has a market capitalization of $68.04 billion, a P/E ratio of 31.62, a PEG ratio of 3.98 and a beta of 0.62.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings data on Friday, January 28th. The company reported $0.79 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.79. Colgate-Palmolive had a return on equity of 308.71% and a net margin of 12.43%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive will post 3.25 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has initiated a share repurchase program on Thursday, March 10th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Thursday, April 21st will be issued a $0.47 dividend. The ex-dividend date is Wednesday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio is presently 70.31%.

Several brokerages have issued reports on CL. Morgan Stanley raised their price target on Colgate-Palmolive from $90.00 to $91.00 and gave the company an “equal weight” rating in a report on Monday, January 31st. Sanford C. Bernstein raised Colgate-Palmolive from an “underperform” rating to a “market perform” rating and raised their price target for the company from $77.00 to $83.00 in a report on Wednesday, February 2nd. Citigroup raised their price target on Colgate-Palmolive from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, January 31st. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet downgraded Colgate-Palmolive from a “b-” rating to a “c+” rating in a report on Friday, March 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.40.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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