On June 12, 2023, Wealthcare Advisory Partners LLC revealed that it has acquired a new stake in shares of Colgate-Palmolive (NYSE:CL), adding to the growing list of investors going long on the company. The New York-based firm purchased 2,748 shares of Colgate-Palmolive’s stock during the fourth quarter at a value of approximately $217,000.
This news comes soon after the announcement of the company’s quarterly report on April 28th, which showed an impressive earning per share (EPS) of $0.73 for the quarter. This figure surpassed the consensus estimate by $0.03 and indicates positive financial growth for Colgate-Palmolive despite challenges faced during the pandemic.
The company’s net margin was recorded at 8.71%, with a return on equity of over 348%. These are impressive metrics that demonstrate economic stability even in uncertain times.
Analysts have been quick to highlight these remarkable results; Royal Bank of Canada boosted their price target on Colgate-Palmolive from $82.00 to $83.00 while Deutsche Bank Aktiengesellschaft raised theirs from $80.00 to $88.00 just days later. Wells Fargo & Company increased its price target from $76.00 to $81.00, indicating high confidence in Colgate-Palmolive’s future market performance.
Colgate-Palmolive also boasts an increase in revenue of up to 8.4% YoY for this period compared to analyst estimates set at $4.58 billion – culminating into revenue worth approximately $4.77 billion.The numbers speak for themselves and depict steady financial growth for Colgate-Palmolive amidst challenges faced because of covid19 induced lockdowns and disruptions.
Investment analysts have given moderate ratings and buy ratings all around for the stock; data retrieved from Bloomberg shows an average target price of $84.75, indicating a consensus ‘Moderate Buy’ rating for CL.
Wealthcare Advisory Partner’s decision to invest in Colgate-Palmolive shares indicates growing investor confidence and trust in the company at large. Hopefully, Colgate-Palmolive will continue down this path of economic growth, attracting more investors in the process.
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Institutional Investment in Colgate-Palmolive: A Comprehensive Overview
Colgate-Palmolive: An Overview of Institutional Investment
Colgate-Palmolive, a global household and personal care products manufacturer, has attracted interest from several institutional investors and hedge funds. According to the latest reports as of June 12, 2023, Korea Investment CORP has increased its position in the company by 12.6% during the fourth quarter of last year. Cassaday & Co Wealth Management LLC has also acquired new shares in Colgate-Palmolive worth around $312,000.
In addition, Mission Wealth Management LP raised its stake by 6.8%, adding 232 shares valued at $287,000 during the same period. Meanwhile, International Assets Investment Management LLC grew its position in Colgate-Palmolive by an impressive 423.6%, purchasing an additional 23,118 shares worth $87,000. Finally, Miracle Mile Advisors LLC bought new shares and increased its exposure to Colgate-Palmolive for roughly $321,000.
Currently, institutional investors own approximately 77.63% of the stock issued by Colgate-Palmolive on NYSE CL, which recently traded down $0.42 to $75.42 per share during mid-day trading last Monday with a volume of 1,207,267 shares compared to its average volume of around 4 million.
The company’s financial ratios are reasonable with a debt-to-equity ratio of over twenty-one times; however current ratio is relatively low at just above one time while quick ratio is even lower at almost three-fourths below it . The company has been trading between $67.84 and $83.81 over the past twelve months; however, it may see some short-term fluctuations in line with analysts’ recommendations regarding CL’s performance.
Recent analyst reports on CL have been mixed; Royal Bank of Canada increased their price target for CL from $82 to $83 a share whilst Deutsche Bank AG raised theirs from $80 to $88, recommending a buy rating for the stock. On the other hand, StockNews.com downgraded it from “buy” to “hold”. Citigroup analysts have expressed a more bullish stance and increased their price target range from $88-$92 per share.
Colgate-Palmolive has just announced that its shareholders will receive quarterly dividends by 48 cents per share on August 15th this year. The payout ratio for the company is currently set at 100%, which signifies that they are using all available earnings to pay off existing debts and reward investors.
Recent disclosures show insider activity, with Jennifer Daniels selling 24,703 shares of Colgate-Palmolive for around $79.70 per share last month, generating profits of about $1.9 million. Director John P. Bilbrey sold just over 5k shares at an average price of $80.81 for a total value exchanged of nearly $460,859 in an earlier deal.
Overall, Colgate-Palmolive is considered by many as a stable blue-chip company with strong fundamentals and a range of well-established brands in diverse consumer markets worldwide; hence continuing to attract external institutional investment attention even during these unprecedented times of economic uncertainty.
