CENTRAL TRUST Co Cuts Stake in Colgate-Palmolive (NYSE:CL)

CENTRAL TRUST Co trimmed its position in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,387 shares of the company’s stock after selling 731 shares during the quarter. CENTRAL TRUST Co’s holdings in Colgate-Palmolive were worth $2,252,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortis Advisors LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at $38,000. TAP Consulting LLC purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $40,000. Widmann Financial Services Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $42,000. Missouri Trust & Investment Co purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $44,000. Finally, Bell Investment Advisors Inc purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at $49,000. 77.15% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on CL shares. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Sanford C. Bernstein upgraded Colgate-Palmolive from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $77.00 to $83.00 in a research note on Wednesday, February 2nd. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $90.00 to $88.00 in a research note on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Colgate-Palmolive from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 13th. Finally, TheStreet lowered Colgate-Palmolive from a “b-” rating to a “c+” rating in a research note on Friday, March 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.40.

In related news, insider Jennifer Daniels sold 40,580 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $82.93, for a total value of $3,365,299.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Cahill sold 5,389 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $83.16, for a total value of $448,149.24. The disclosure for this sale can be found here. Insiders have sold a total of 127,080 shares of company stock valued at $10,443,094 in the last three months. Insiders own 0.32% of the company’s stock.

Shares of CL traded down $4.17 during midday trading on Friday, hitting $77.05. 14,943,403 shares of the company traded hands, compared to its average volume of 6,042,301. The firm has a 50 day moving average of $77.40 and a 200-day moving average of $79.04. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The stock has a market cap of $64.77 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 3.96 and a beta of 0.62. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.67 and a current ratio of 1.09.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). Colgate-Palmolive had a net margin of 12.43% and a return on equity of 308.71%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 3.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Thursday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.45. Colgate-Palmolive’s dividend payout ratio is 73.44%.

Colgate-Palmolive declared that its board has approved a stock buyback program on Thursday, March 10th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Colgate-Palmolive Company Profile (Get Rating)

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

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