Smith Salley Wealth Management Sells 9,321 Shares of Colgate-Palmolive Company $CL

Smith Salley Wealth Management lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,466 shares of the company’s stock after selling 9,321 shares during the period. Smith Salley Wealth Management’s holdings in Colgate-Palmolive were worth $9,203,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC increased its position in Colgate-Palmolive by 11.0% during the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after purchasing an additional 202,379 shares during the period. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $5,373,000. Asset Management One Co. Ltd. boosted its stake in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after purchasing an additional 16,017 shares during the last quarter. Citigroup Inc. increased its position in shares of Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after buying an additional 409,710 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in shares of Colgate-Palmolive by 248.5% during the third quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after buying an additional 62,327 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CL. Jefferies Financial Group boosted their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Barclays dropped their price objective on Colgate-Palmolive from $88.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Citigroup raised their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $95.44.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 15,000 shares of Colgate-Palmolive stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 184,683 shares of company stock worth $17,486,693. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Up 0.0%

CL opened at $85.83 on Monday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The company has a market cap of $68.86 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 4.28 and a beta of 0.34. The company has a fifty day moving average price of $89.99 and a two-hundred day moving average price of $83.77.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.