S&T Bank PA Reduces Stake in Colgate-Palmolive Company $CL

S&T Bank PA lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,839 shares of the company’s stock after selling 2,088 shares during the quarter. S&T Bank PA’s holdings in Colgate-Palmolive were worth $1,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CL. Personal CFO Solutions LLC purchased a new position in Colgate-Palmolive during the first quarter valued at $285,000. Vision Capital Management Inc. bought a new position in shares of Colgate-Palmolive in the first quarter worth about $322,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $2,166,000. Cidel Asset Management Inc. grew its stake in shares of Colgate-Palmolive by 13.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after acquiring an additional 39,413 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CL. Raymond James Financial dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Evercore ISI dropped their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Finally, Morgan Stanley reduced their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $77.25 on Friday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The firm has a market capitalization of $62.44 billion, a PE ratio of 21.70, a PEG ratio of 4.44 and a beta of 0.35. The stock’s fifty day moving average is $79.84 and its 200 day moving average is $85.88.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

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.