Eagle Ridge Investment Management Takes Position in Colgate-Palmolive (NYSE:CL)

Eagle Ridge Investment Management bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,920 shares of the company’s stock, valued at approximately $1,815,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Chip Partners Inc. grew its holdings in shares of Colgate-Palmolive by 0.4% during the second quarter. Blue Chip Partners Inc. now owns 1,813 shares of the company’s stock valued at $134,000 after purchasing an additional 8 shares during the last quarter. Cue Financial Group Inc. grew its holdings in shares of Colgate-Palmolive by 0.3% during the second quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after purchasing an additional 14 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Colgate-Palmolive by 1.5% during the second quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock valued at $126,000 after purchasing an additional 25 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Colgate-Palmolive by 0.3% during the second quarter. Capital Investment Advisors LLC now owns 8,318 shares of the company’s stock valued at $617,000 after purchasing an additional 27 shares during the last quarter. Finally, Weatherstone Capital Management grew its holdings in shares of Colgate-Palmolive by 0.7% during the second quarter. Weatherstone Capital Management now owns 4,069 shares of the company’s stock valued at $302,000 after purchasing an additional 28 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive (CL) traded up $0.07 on Friday, reaching $74.62. The company’s stock had a trading volume of 2,338,181 shares, compared to its average volume of 2,745,422. The firm has a market capitalization of $65,520.00, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. research analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.

In other Colgate-Palmolive news, insider Jennifer Daniels sold 902 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the transaction, the insider now owns 37,788 shares of the company’s stock, valued at $2,865,086.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Justin Skala sold 126,393 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock worth $13,237,385 in the last ninety days. 1.02% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a report on Monday, October 23rd. Deutsche Bank assumed coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price for the company. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $75.00 to $84.00 in a research report on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Finally, Stifel Nicolaus set a $73.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $76.51.

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About Colgate-Palmolive

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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