Gideon Capital Advisors Inc. Takes Position in Colgate-Palmolive (CL)

Gideon Capital Advisors Inc. purchased a new stake in shares of Colgate-Palmolive (NYSE:CL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,725 shares of the company’s stock, valued at approximately $2,769,000. Colgate-Palmolive accounts for 1.4% of Gideon Capital Advisors Inc.’s holdings, making the stock its 4th biggest position.

Other large investors have also modified their holdings of the company. Rainier Group Investment Advisory LLC bought a new position in Colgate-Palmolive during the first quarter worth about $107,000. Centerpoint Advisors LLC bought a new position in Colgate-Palmolive during the first quarter worth about $112,000. Quadrant Capital Group LLC boosted its position in Colgate-Palmolive by 142.4% during the first quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock worth $108,000 after purchasing an additional 941 shares during the period. Princeton Capital Management LLC bought a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $117,000. Finally, Kaizen Advisory LLC boosted its position in shares of Colgate-Palmolive by 134.8% in the second quarter. Kaizen Advisory LLC now owns 1,979 shares of the company’s stock valued at $128,000 after acquiring an additional 1,136 shares during the period. Hedge funds and other institutional investors own 74.05% of the company’s stock.

A number of equities analysts have recently commented on CL shares. UBS Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Wednesday, July 18th. Argus upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 21st. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, July 23rd. Finally, Wells Fargo & Co lowered shares of Colgate-Palmolive to a “hold” rating in a research report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.14.

In other Colgate-Palmolive news, VP Justin Skala sold 90,069 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $66.36, for a total transaction of $5,976,978.84. Following the transaction, the vice president now directly owns 65,061 shares of the company’s stock, valued at $4,317,447.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel B. Marsili sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $63.25, for a total transaction of $1,233,375.00. Following the transaction, the insider now directly owns 78,065 shares in the company, valued at $4,937,611.25. The disclosure for this sale can be found here. Insiders sold 433,302 shares of company stock worth $28,518,498 over the last ninety days. 1.02% of the stock is currently owned by insiders.

Shares of CL opened at $65.83 on Thursday. The company has a market capitalization of $56.78 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.93 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. Colgate-Palmolive has a 1-year low of $61.28 and a 1-year high of $77.91.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. Colgate-Palmolive’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, July 18th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

Colgate-Palmolive declared that its board has approved a stock repurchase program on Monday, June 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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