Tufton Capital Management Sells 1,250 Shares of Colgate-Palmolive Company $CL

Tufton Capital Management cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,947 shares of the company’s stock after selling 1,250 shares during the period. Tufton Capital Management’s holdings in Colgate-Palmolive were worth $2,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after buying an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. raised its position in Colgate-Palmolive by 34.5% during 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 during the period. Deutsche Bank AG raised its position in Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after purchasing an additional 177,833 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CL. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday. Raymond James Financial decreased their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Finally, UBS Group decreased their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $74.94 on Tuesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The firm has a market capitalization of $60.56 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.44 and a beta of 0.34. The stock has a 50 day moving average price of $80.26 and a 200 day moving average price of $86.14.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.8%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Colgate-Palmolive Company 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.