Colgate-Palmolive (NYSE:CL) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lessened its position in Colgate-Palmolive (NYSE:CL) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,144 shares of the company’s stock after selling 2,213 shares during the period. Eagle Ridge Investment Management’s holdings in Colgate-Palmolive were worth $1,454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Regal Investment Advisors LLC grew its holdings in Colgate-Palmolive by 1.6% during the fourth quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock worth $604,000 after acquiring an additional 121 shares during the period. M&G Investment Management Ltd. grew its stake in shares of Colgate-Palmolive by 0.3% in the 4th quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock worth $3,942,000 after purchasing an additional 125 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Colgate-Palmolive by 3.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock worth $271,000 after purchasing an additional 127 shares in the last quarter. &PARTNERS lifted its stake in Colgate-Palmolive by 0.7% during the fourth quarter. &PARTNERS now owns 17,643 shares of the company’s stock valued at $1,406,000 after purchasing an additional 129 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in Colgate-Palmolive by 0.4% during the fourth quarter. AMG National Trust Bank now owns 30,232 shares of the company’s stock worth $2,410,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CL. Morgan Stanley lifted their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Royal Bank of Canada boosted their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Wells Fargo & Company raised their price objective 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. Citigroup boosted their target price on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Barclays raised their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Price Performance

NYSE CL traded up $0.58 on Tuesday, reaching $96.12. The company’s stock had a trading volume of 4,205,846 shares, compared to its average volume of 4,501,928. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The business has a 50-day moving average price of $94.02 and a 200 day moving average price of $87.76. The firm has a market cap of $78.86 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $99.08.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $0.73 earnings per share. Sell-side analysts expect that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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.