Welch Group LLC Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Welch Group LLC lowered its stake in Colgate-Palmolive (NYSE:CLFree Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 627,813 shares of the company’s stock after selling 4,079 shares during the period. Colgate-Palmolive accounts for about 2.8% of Welch Group LLC’s holdings, making the stock its 13th largest holding. Welch Group LLC owned 0.08% of Colgate-Palmolive worth $56,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alaska Permanent Fund Corp grew its stake in shares of Colgate-Palmolive by 2.5% in the 1st quarter. Alaska Permanent Fund Corp now owns 154,713 shares of the company’s stock worth $13,932,000 after buying an additional 3,821 shares during the last quarter. Collective Family Office LLC purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $206,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Colgate-Palmolive by 70.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,978 shares of the company’s stock worth $358,000 after buying an additional 1,638 shares during the last quarter. Rise Advisors LLC purchased a new stake in Colgate-Palmolive during the 1st quarter valued at $38,000. Finally, Atlas Brown Inc. bought a new position in Colgate-Palmolive in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CL shares. Stifel Nicolaus raised their target price on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Royal Bank of Canada raised 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. The Goldman Sachs Group started coverage on Colgate-Palmolive in a report on Friday, March 1st. They issued a “buy” rating and a $93.00 target price on the stock. Argus raised their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley increased 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. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.94.

Get Our Latest Report on Colgate-Palmolive

Insiders Place Their Bets

In other news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Trading Down 0.2 %

CL traded down $0.22 on Thursday, hitting $96.79. The company had a trading volume of 1,924,025 shares, compared to its average volume of 4,415,918. The company has a market cap of $79.41 billion, a PE ratio of 30.70, a PEG ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $97.41. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The business’s fifty day simple moving average is $92.26 and its 200 day simple moving average is $86.59.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Equities research analysts expect that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company 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 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

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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