Cullinan Associates Inc. Cuts Position in Colgate-Palmolive (NYSE:CL)

Cullinan Associates Inc. trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,409 shares of the company’s stock after selling 1,800 shares during the period. Cullinan Associates Inc.’s holdings in Colgate-Palmolive were worth $5,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CL. Union Savings Bank increased its stake in Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Core Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after purchasing an additional 146 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $34,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CL. Citigroup raised their target price on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Barclays raised their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Evercore ISI raised their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Insider Buying and Selling

In related news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive 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 completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction dated 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 completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Colgate-Palmolive Price Performance

Shares of CL stock traded up $0.37 during mid-day trading on Tuesday, reaching $95.91. The stock had a trading volume of 753,503 shares, compared to its average volume of 4,474,241. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $99.08. The company has a market cap of $78.69 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. The business has a 50-day simple moving average of $93.87 and a 200 day simple moving average of $87.63. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

About Colgate-Palmolive

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.