Smith Salley Wealth Management Invests $1.54 Million in Colgate-Palmolive (NYSE:CL)

Smith Salley Wealth Management acquired a new stake in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,792 shares of the company’s stock, valued at approximately $1,536,000.

Several other hedge funds have also recently added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the second quarter worth $25,000. Continuum Advisory LLC boosted its position in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $48,000. Gradient Investments LLC raised its holdings in Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Colgate-Palmolive in the 2nd quarter worth approximately $68,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock valued at $4,486,063 in the last three months. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley lifted their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup upped their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Colgate-Palmolive Stock Performance

NYSE CL opened at $95.61 on Friday. The company has a market cap of $78.44 billion, a P/E ratio of 30.26, a P/E/G ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $71.46 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The stock has a 50-day moving average of $103.15 and a two-hundred day moving average of $97.98.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.01 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. As a group, analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Colgate-Palmolive Profile

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.