Jupiter Topco LLC Makes New $9.83 Million Investment in Colgate-Palmolive Company $CL

by · The Markets Daily

Jupiter Topco LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 107,227 shares of the company’s stock, valued at approximately $9,826,000.

Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC boosted its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management boosted its position in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $90.75 on Monday. The stock has a market capitalization of $72.34 billion, a P/E ratio of 36.01, a P/E/G ratio of 4.24 and a beta of 0.33. The business has a 50-day moving average of $92.02 and a two-hundred day moving average of $90.03. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 over the last 90 days. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CL. Citigroup raised their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Piper Sandler raised their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Read Our Latest Report on CL

Colgate-Palmolive Profile

(Free Report)

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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