Nova R Wealth Inc. Makes New $207,000 Investment in Colgate-Palmolive (NYSE:CL)

Nova R Wealth Inc. bought a new position in Colgate-Palmolive (NYSE:CL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,991 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of CL. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares during the last quarter. Swedbank AB purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $286,370,000. Acadian Asset Management LLC increased its position in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after acquiring an additional 2,593,313 shares during the period. Finally, Ossiam grew its stake in shares of Colgate-Palmolive by 368.4% during the 1st quarter. Ossiam now owns 1,563,768 shares of the company’s stock valued at $140,817,000 after acquiring an additional 1,229,891 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.7 %

NYSE CL traded up $0.66 during trading on Tuesday, hitting $101.39. The company’s stock had a trading volume of 1,682,287 shares, compared to its average volume of 4,334,481. 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 company has a market cap of $83.18 billion, a PE ratio of 31.89, a P/E/G ratio of 3.54 and a beta of 0.40. The business’s 50 day simple moving average is $103.55 and its 200-day simple moving average is $97.33. Colgate-Palmolive has a fifty-two week low of $71.07 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. BNP Paribas initiated coverage on Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Finally, Sanford C. Bernstein increased their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s 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 directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last three months. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Company 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.