Synergy Asset Management LLC Purchases Shares of 536 Colgate-Palmolive (NYSE:CL)

Synergy Asset Management LLC acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 536 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Colgate-Palmolive by 50.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 3,635 shares of the company’s stock worth $330,000 after purchasing an additional 1,217 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $3,293,000. Strategic Blueprint LLC boosted its holdings in shares of Colgate-Palmolive by 88.5% in the 4th quarter. Strategic Blueprint LLC now owns 12,762 shares of the company’s stock valued at $1,160,000 after acquiring an additional 5,993 shares during the last quarter. Forsta AP Fonden increased its stake in shares of Colgate-Palmolive by 4.1% in the fourth quarter. Forsta AP Fonden now owns 256,500 shares of the company’s stock worth $23,318,000 after acquiring an additional 10,100 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Colgate-Palmolive by 34.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 13,800 shares of the company’s stock worth $1,255,000 after purchasing an additional 3,517 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 4.7 %

Shares of CL stock opened at $86.64 on Friday. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The firm has a market capitalization of $70.78 billion, a P/E ratio of 24.82, a PEG ratio of 3.70 and a beta of 0.44. The stock’s fifty day moving average is $91.52 and its two-hundred day moving average is $97.25. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.27% and a return on equity of 405.81%. During the same quarter last year, the firm earned $0.87 EPS. Research analysts expect that Colgate-Palmolive will post 3.58 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive’s payout ratio is 57.31%.

Analysts Set New Price Targets

A number of research firms have weighed in on CL. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. UBS Group decreased their target price on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average target price of $102.00.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

About Colgate-Palmolive

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.