Hemenway Trust Co LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

Hemenway Trust Co LLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 7.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,039 shares of the company’s stock after selling 480 shares during the quarter. Hemenway Trust Co LLC’s holdings in Colgate-Palmolive were worth $544,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of CL. Union Savings Bank raised its holdings in Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares during the period. PSI Advisors LLC raised its holdings in Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after acquiring an additional 348 shares during the period. Avion Wealth raised its holdings in Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $32,000. Finally, Core Wealth Advisors Inc. raised its holdings in Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CL shares. Morgan Stanley lifted their target price on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Bank of America lifted their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. BNP Paribas started coverage on Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 target price on the stock. Finally, Barclays lifted their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.33.

Insider Buying and Selling at Colgate-Palmolive

In related news, 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 value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed 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 shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.4 %

Shares of NYSE:CL traded up $0.37 during trading hours on Thursday, hitting $97.76. 3,657,457 shares of the company’s stock traded hands, compared to its average volume of 4,431,142. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $99.08. The business has a fifty day moving average price of $95.01 and a 200-day moving average price of $88.68. The firm has a market capitalization of $80.21 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70.

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, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.05%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

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.