On September 20, 2023, it was reported that EP Wealth Advisors LLC acquired a new position in Colgate-Palmolive (NYSE:CL) during the first quarter of the year. According to their most recent Form 13F filing with the Securities & Exchange Commission, the fund purchased 16,728 shares of Colgate-Palmolive stock valued at approximately $94,000.
Colgate-Palmolive, known for its consumer products in oral care, personal care, and home care categories, recently released its earnings results on July 28th. The company reported earnings per share (EPS) of $0.77 for the quarter, surpassing the consensus estimate by $0.02.
In terms of financial performance, Colgate-Palmolive demonstrated a return on equity of 386.76% and a net margin of 8.02%. Its quarterly revenue reached $4.82 billion, surpassing analysts’ expectations of $4.70 billion. These figures indicate a positive trend compared to the same quarter of the previous year when the company posted earnings per share of $0.72.
With a year-over-year revenue growth rate of 7.5%, Colgate-Palmolive continues to demonstrate its ability to maintain steady growth in its operations.
Looking ahead, analysts predict that Colgate-Palmolive will achieve an EPS of 3.17 for the current year based on their projections and market trends.
This recent acquisition by EP Wealth Advisors LLC demonstrates investor confidence in Colgate-Palmolive’s potential for continued success and growth. As one of the leading companies in its industry, Colgate-Palmolive’s strong quarterly performance and consistent revenue growth contribute to its appeal as an investment opportunity.
As always with investments and financial decisions, it is recommended that investors conduct thorough research and analysis before making any decisions regarding stocks or acquisitions.
Please note that this article is based on information as of September 20, 2023, and investors should stay updated with the latest news and developments regarding Colgate-Palmolive to make informed decisions.
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Hedge Fund Activity and Analyst Ratings for Colgate-Palmolive (CL)
Colgate-Palmolive (CL) has seen various hedge funds make changes to their holdings in the company, according to recent reports. Korea Investment Corp, for example, increased its stake by 12.6% during the fourth quarter of the previous year. This resulted in the acquisition of an additional 86,448 shares, bringing its total holdings to over 771,000 shares valued at $60.77 million.
Similarly, TCG Advisory Services LLC entered a new position during the first quarter of this year, adding approximately $207,000 worth of shares to its portfolio. Meanwhile, Oregon Public Employees Retirement Fund increased its holdings by 1.2%, purchasing an additional 735 shares valued at around $4.85 million.
Profund Advisors LLC also boosted its stake by more than 20% during the first quarter of this year by acquiring an extra 1,897 shares with a value of $834,000. Cyndeo Wealth Partners LLC followed suit but with a more conservative gain of 1.8%, obtaining only an additional 200 shares worth $48,000.
These institutional investors now collectively own around 78% of Colgate-Palmolive’s stock.
A number of research analysts have weighed in on CL and issued their ratings accordingly. Royal Bank of Canada reiterated a “sector perform” rating and assigned a price target of $83 per share. StockNews.com downgraded the stock from “buy” to “hold.” Deutsche Bank Aktiengesellschaft revised their target price upward from $88 to $91 and re-affirmed a “buy” rating. Barclays also raised their target price from $77 to $81 while maintaining an “equal weight” rating on the stock.
The opinions among analysts appear divided as five recommend holding onto the stock while seven suggest buying it. According to Bloomberg.com data, analysts have given Colgate-Palmolive an average rating of “Moderate Buy” with a target price consensus of $85.33.
In recent insider trading activity, John W. Kooyman, an insider at Colgate-Palmolive, sold 21,677 shares in early August at an average price of $77.69 per share, amassing a total transaction value of over $1.68 million. As a result, Kooyman now owns 6,384 shares valued at approximately $495,972.96.
Another insider involved in selling shares was Vice President Gregory Malcolm who offloaded 10,493 shares on August 31st at an average price of $73.90 apiece for a total value of roughly $775,432.70. After this sale, Malcolm holds 7,852 shares valued at about $580,262.80.
During the past three months alone, insiders have sold more than 105,501 shares with an estimated worth of $7.84 million. Consequently, they own approximately 0.34% of the company’s stock.
As of September 20th this year, CL opened at a price of $73.21 per share. The company’s current ratio stands at 1.17 while its quick ratio is lower at 0.73. Colgate-Palmolive has experienced fluctuations within the past year with a low of $67.84 and a high of $82.09.
The stock currently has a market capitalization worth approximately $60.52 billion with a price-to-earnings ratio of 40.67 and a PEG ratio of 3.11 – indicative factors that investors might consider when assessing its relative value and growth potential.
Overall, Colgate-Palmolive remains an intriguing investment opportunity given its strong performance as reflected in institutional holdings and analyst ratings despite recent insider sales and fluctuating market volatility.
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