Welch Group LLC Has $25.72 Million Holdings in Colgate-Palmolive (CL)
Welch Group LLC boosted its stake in Colgate-Palmolive (NYSE:CL) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,288 shares of the company’s stock after purchasing an additional 23,652 shares during the period. Colgate-Palmolive comprises 2.8% of Welch Group LLC’s investment portfolio, making the stock its 22nd largest position. Welch Group LLC’s holdings in Colgate-Palmolive were worth $25,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Capital Financial Planning LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $27,000. Parisi Gray Wealth Management increased its stake in Colgate-Palmolive by 365.3% in the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after purchasing an additional 369 shares during the period. Timber Creek Capital Management LLC increased its stake in Colgate-Palmolive by 247.1% in the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after purchasing an additional 336 shares during the period. Portfolio Solutions LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $30,000. Finally, WP Advisors LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $34,000. 76.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CL traded down $0.06 during mid-day trading on Monday, hitting $68.71. 2,729,554 shares of the stock traded hands, compared to its average volume of 3,864,319. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $72.61. The firm has a market capitalization of $58.54 billion, a PE ratio of 23.13, a P/E/G ratio of 4.40 and a beta of 0.79.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.50%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, April 17th. Colgate-Palmolive’s payout ratio is 56.57%.
In other Colgate-Palmolive news, CEO Ian M. Cook sold 17,750 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $67.37, for a total value of $1,195,817.50. Following the sale, the chief executive officer now directly owns 1,130,793 shares of the company’s stock, valued at $76,181,524.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Cahill sold 5,780 shares of the business’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total value of $372,578.80. Following the completion of the sale, the director now directly owns 27,820 shares in the company, valued at $1,793,277.20. The disclosure for this sale can be found here. Insiders sold 85,450 shares of company stock worth $5,682,621 over the last three months. Corporate insiders own 1.02% of the company’s stock.
A number of brokerages have recently weighed in on CL. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “sell” rating in a research report on Monday. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, March 19th. UBS Group lifted their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. Macquarie set a $57.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Finally, Credit Suisse Group began coverage on Colgate-Palmolive in a research report on Wednesday, March 6th. They issued an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $65.73.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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