Ashton Thomas Private Wealth LLC Has $1.37 Million Position in Colgate-Palmolive (NYSE:CL)

05 Jul 2024, 11:36 by Amy Steele · The Cerbat Gem

Ashton Thomas Private Wealth LLC trimmed its position in Colgate-Palmolive (NYSE:CL – Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,251 shares of the company’s stock after selling 465 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Colgate-Palmolive were worth $1,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter valued at $731,843,000. Price T Rowe Associates Inc. MD grew its holdings in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after buying an additional 4,625,472 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of Colgate-Palmolive by 4,162.6% during the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after acquiring an additional 1,968,988 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $130,622,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Colgate-Palmolive by 461.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock valued at $93,311,000 after acquiring an additional 851,671 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. BNP Paribas began coverage on Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price for the company. Bank of America upped their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Citigroup upped their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI upped their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley upped their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Check Out Our Latest Report on Colgate-Palmolive

Colgate-Palmolive Price Performance

CL traded up $0.67 on Friday, reaching $96.56. The stock had a trading volume of 733,765 shares, compared to its average volume of 4,453,009. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $99.08. The firm has a 50-day moving average of $94.44 and a 200-day moving average of $88.01. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company has a market capitalization of $79.22 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 3.53 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. Colgate-Palmolive’s payout ratio is presently 63.29%.

Colgate-Palmolive Profile

(Free Report)

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.