Colgate-Palmolive (NYSE:CL) Shares Sold by Berkshire Bank

Berkshire Bank decreased its holdings in Colgate-Palmolive (NYSE:CLFree Report) by 28.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,180 shares of the company’s stock after selling 1,235 shares during the quarter. Berkshire Bank’s holdings in Colgate-Palmolive were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CL. Daiwa Securities Group Inc. raised its stake in Colgate-Palmolive by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 73,101 shares of the company’s stock worth $5,198,000 after acquiring an additional 6,277 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Colgate-Palmolive by 13.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,876 shares of the company’s stock valued at $702,000 after buying an additional 1,169 shares during the last quarter. CNB Bank purchased a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $99,000. Dai ichi Life Insurance Company Ltd raised its stake in shares of Colgate-Palmolive by 25.5% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 104,821 shares of the company’s stock valued at $7,454,000 after buying an additional 21,286 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of Colgate-Palmolive by 5.4% during the 3rd quarter. Main Street Financial Solutions LLC now owns 6,196 shares of the company’s stock valued at $441,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Stifel Nicolaus lifted their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Argus lifted their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Citigroup lifted their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Evercore ISI lifted their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.35.

Get Our Latest Report on CL

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $0.78 on Tuesday, hitting $95.17. 4,496,358 shares of the company were exchanged, compared to its average volume of 4,607,286. The stock has a market capitalization of $78.08 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 3.47 and a beta of 0.40. The company has a 50-day moving average price of $90.06 and a 200 day moving average price of $84.10. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $95.59. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21.

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

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is presently 63.29%.

Insider Activity

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

Colgate-Palmolive Profile

(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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