Braun Stacey Associates Inc. Cuts Holdings in Colgate-Palmolive Company $CL

Braun Stacey Associates Inc. reduced its position in shares of Colgate-Palmolive Company (NYSE:CLFree Report) by 72.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 65,525 shares of the company’s stock after selling 170,340 shares during the period. Braun Stacey Associates Inc.’s holdings in Colgate-Palmolive were worth $6,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive in the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC increased its position in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management increased its position in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last ninety days. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. UBS Group increased their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their target price on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

View Our Latest Report on Colgate-Palmolive

Colgate-Palmolive Trading Down 0.2%

Shares of CL opened at $90.75 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $72.34 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 4.25 and a beta of 0.33. The firm’s fifty day moving average is $92.02 and its two-hundred day moving average is $90.06. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CLGet Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

About Colgate-Palmolive

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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