Sandy Spring Bank lessened its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,031 shares of the company's stock after selling 1,530 shares during the period. Sandy Spring Bank's holdings in Colgate-Palmolive were worth $644,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Ziegler Capital Management LLC purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $673,000. Tower Bridge Advisors lifted its holdings in shares of Colgate-Palmolive by 2.3% during the 2nd quarter. Tower Bridge Advisors now owns 58,986 shares of the company's stock worth $4,727,000 after acquiring an additional 1,300 shares during the period. Charter Oak Capital Management LLC bought a new position in Colgate-Palmolive during the 2nd quarter valued at about $83,000. Winthrop Advisory Group LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at about $203,000. Finally, Aurora Private Wealth Inc. grew its holdings in Colgate-Palmolive by 42.6% during the 2nd quarter. Aurora Private Wealth Inc. now owns 18,823 shares of the company's stock worth $1,046,000 after acquiring an additional 5,625 shares during the period. Institutional investors own 78.62% of the company's stock.
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Colgate-Palmolive Price Performance
Shares of NYSE CL opened at $70.25 on Monday. Colgate-Palmolive has a 52 week low of $70.16 and a 52 week high of $85.61. The firm has a market cap of $58.60 billion, a P/E ratio of 30.41, a P/E/G ratio of 5.14 and a beta of 0.48. The business's 50 day moving average price is $78.38 and its 200 day moving average price is $78.02. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 14.26.
Colgate-Palmolive (NYSE:CL – Get Rating) last issued its earnings results on Friday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.35 billion. Colgate-Palmolive had a return on equity of 315.10% and a net
margin of 10.98%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 3.03 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive's dividend payout ratio is presently 81.39%.
Insider Transactions at Colgate-Palmolive
In related news, insider Sally Massey sold 656 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $77.58, for a total transaction of $50,892.48. Following the transaction, the insider now owns 7,913 shares of the company's stock, valued at approximately $613,890.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider Sally Massey sold 656 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $77.58, for a total value of $50,892.48. Following the sale, the insider now owns 7,913 shares of the company's stock, valued at approximately $613,890.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 51,665 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $81.27, for a total value of $4,198,814.55. Following the sale, the chief executive officer now directly owns 221,790 shares in the company, valued at approximately $18,024,873.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,802 shares of company stock worth $10,100,532. 0.32% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have commented on CL shares. Barclays boosted their price target on shares of Colgate-Palmolive from $71.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 2nd. StockNews.com downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Monday, September 19th. Wells Fargo & Company raised shares of Colgate-Palmolive to an "equal weight" rating in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $79.00 to $78.00 in a report on Thursday, July 21st. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and a consensus target price of $84.57.
Colgate-Palmolive Company Profile
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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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