Trust Co. of Virginia VA Trims Stake in Colgate-Palmolive (NYSE:CL)

Trust Co. of Virginia VA trimmed its stake in Colgate-Palmolive (NYSE:CL) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,165 shares of the company’s stock after selling 350 shares during the period. Trust Co. of Virginia VA’s holdings in Colgate-Palmolive were worth $735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Union Savings Bank increased its stake in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after buying an additional 134 shares in the last quarter. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 4th quarter worth $32,000. Core Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after buying an additional 146 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter worth $34,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CL shares. Royal Bank of Canada increased their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Stifel Nicolaus raised their price objective on Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Morgan Stanley raised their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Colgate-Palmolive Trading Down 1.2 %

NYSE CL traded down $1.13 during trading on Friday, hitting $97.04. The stock had a trading volume of 11,036,315 shares, compared to its average volume of 3,769,464. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a market capitalization of $79.62 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 3.61 and a beta of 0.39. Colgate-Palmolive has a one year low of $67.62 and a one year high of $99.08. The stock has a 50 day simple moving average of $93.87 and a 200 day simple moving average of $87.51.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. Sell-side analysts predict that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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 2.06%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insiders Place Their Bets

In other news, insider John W. Kooyman sold 3,497 shares of the firm’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 transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider John W. Kooyman sold 3,497 shares of the firm’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 transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the firm’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 transaction of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Colgate-Palmolive 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.