Colgate-Palmolive Company $CL Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 10.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,987 shares of the company’s stock after selling 844 shares during the quarter. Patten & Patten Inc. TN’s holdings in Colgate-Palmolive were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Price T Rowe Associates Inc. MD grew its position in shares of Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after buying an additional 5,269,140 shares in the last quarter. Nuveen LLC acquired a new position in Colgate-Palmolive in the first quarter valued at approximately $217,593,000. Goldman Sachs Group Inc. boosted its holdings in Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Colgate-Palmolive by 45.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock valued at $521,250,000 after purchasing an additional 1,727,105 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Colgate-Palmolive by 60.5% in the first quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock valued at $218,957,000 after purchasing an additional 880,527 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $78.13 on Friday. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $101.89. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock has a 50 day moving average of $82.07 and a two-hundred day moving average of $87.49. The stock has a market cap of $63.15 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.55 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CL. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Barclays lowered their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Morgan Stanley lowered their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Profile

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.