Colgate-Palmolive (NYSE:CL) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. decreased its holdings in Colgate-Palmolive (NYSE:CLFree Report) by 7.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,637 shares of the company’s stock after selling 1,000 shares during the quarter. Bridges Investment Management Inc.’s holdings in Colgate-Palmolive were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its stake in Colgate-Palmolive by 90,253.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock worth $1,258,627,000 after purchasing an additional 15,956,771 shares during the period. Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter worth approximately $644,715,000. Renaissance Technologies LLC boosted its stake in Colgate-Palmolive by 151.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock worth $431,381,000 after purchasing an additional 3,427,400 shares during the period. Morgan Stanley boosted its stake in Colgate-Palmolive by 41.7% in the 4th quarter. Morgan Stanley now owns 11,370,549 shares of the company’s stock worth $895,886,000 after purchasing an additional 3,345,297 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Colgate-Palmolive by 1,915.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,793,287 shares of the company’s stock worth $135,985,000 after purchasing an additional 1,704,300 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent analyst reports. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Raymond James raised shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Bank of America upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Friday, December 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Colgate-Palmolive in a report on Friday, March 1st. They set a “buy” rating and a $93.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.31.

View Our Latest Analysis on Colgate-Palmolive

Colgate-Palmolive Stock Down 0.8 %

NYSE:CL traded down $0.73 during trading hours on Wednesday, reaching $88.33. The company’s stock had a trading volume of 550,732 shares, compared to its average volume of 4,581,748. The company has a market cap of $72.61 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. Colgate-Palmolive has a one year low of $67.62 and a one year high of $90.37. The business’s 50-day moving average is $86.23 and its 200-day moving average is $79.56. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71.

Colgate-Palmolive (NYSE:CLGet Free Report) last issued its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. Colgate-Palmolive’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Equities research analysts predict that Colgate-Palmolive will post 3.49 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. Colgate-Palmolive’s payout ratio is currently 69.06%.

Insiders Place Their Bets

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the transaction, the executive vice president now owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Daniels sold 61,633 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Malcolm sold 8,930 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the transaction, the executive vice president now directly owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The disclosure for this sale can be found here. Insiders sold a total of 232,371 shares of company stock valued at $19,505,099 in the last quarter. Insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

(Free Report)

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.

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

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