Colgate-Palmolive (NYSE:CL) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its stake in Colgate-Palmolive (NYSE:CL) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 296,376 shares of the company’s stock after selling 7,814 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Colgate-Palmolive were worth $23,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in Colgate-Palmolive during the 3rd quarter worth about $25,000. Avion Wealth lifted its holdings in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $34,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Colgate-Palmolive by 142.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the last quarter. Finally, West Branch Capital LLC increased its position in Colgate-Palmolive by 24.0% during the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the completion of the sale, the chief executive officer now directly owns 301,343 shares of the company’s stock, valued at approximately $25,330,892.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the completion of the sale, the insider now owns 59,698 shares in the company, valued at $5,054,629.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $84.06, for a total value of $2,502,634.32. Following the transaction, the chief executive officer now directly owns 301,343 shares in the company, valued at $25,330,892.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,048 shares of company stock worth $13,336,846. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

NYSE CL opened at $92.88 on Monday. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $93.25. The business has a fifty day moving average of $88.35 and a 200-day moving average of $82.35. The stock has a market cap of $76.20 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 3.43 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.52 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CL shares. Morgan Stanley raised their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. StockNews.com cut shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. UBS Group boosted their price target on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.44.

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.