First Interstate Bank trimmed its position in Colgate-Palmolive (NYSE:CL) by 7.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,925 shares of the company’s stock after selling 499 shares during the period. First Interstate Bank’s holdings in Colgate-Palmolive were worth $425,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Parsec Financial Management Inc. grew its holdings in Colgate-Palmolive by 0.5% during the 2nd quarter. Parsec Financial Management Inc. now owns 30,081 shares of the company’s stock worth $2,156,000 after acquiring an additional 146 shares during the period. Heritage Way Advisors LLC grew its holdings in Colgate-Palmolive by 0.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 33,769 shares of the company’s stock worth $2,420,000 after acquiring an additional 146 shares during the period. Tiemann Investment Advisors LLC grew its holdings in Colgate-Palmolive by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 6,455 shares of the company’s stock worth $442,000 after acquiring an additional 150 shares during the period. Moloney Securities Asset Management LLC grew its holdings in Colgate-Palmolive by 2.7% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,038 shares of the company’s stock worth $433,000 after acquiring an additional 157 shares during the period. Finally, Lynch & Associates IN grew its holdings in Colgate-Palmolive by 0.6% during the 1st quarter. Lynch & Associates IN now owns 28,930 shares of the company’s stock worth $1,983,000 after acquiring an additional 160 shares during the period. Institutional investors own 75.83% of the company’s stock.
In related news, SVP John J. Huston sold 473 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $72.93, for a total value of $34,495.89. Following the transaction, the senior vice president now owns 59,668 shares of the company’s stock, valued at approximately $4,351,587.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total transaction of $1,363,440.00. Following the completion of the transaction, the insider now directly owns 1,186,042 shares in the company, valued at approximately $82,928,056.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,285 shares of company stock valued at $40,530,290. 1.14% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on CL. UBS Group increased their price target on Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Argus increased their price target on Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Morgan Stanley increased their price target on Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Deutsche Bank raised their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, Macquarie raised their target price on Colgate-Palmolive from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.13.
Shares of CL traded up $0.51 during trading hours on Monday, hitting $72.79. The stock had a trading volume of 26,225 shares, compared to its average volume of 3,846,919. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.13 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $72.54 and a 200-day simple moving average of $69.91. The firm has a market capitalization of $62.36 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 4.59 and a beta of 0.76. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $76.41.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. Equities analysts predict that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th were paid a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.36%. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
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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