Stewart & Patten Co. LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

Stewart & Patten Co. LLC decreased its position in Colgate-Palmolive (NYSE:CL) by 30.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,770 shares of the company’s stock after selling 4,310 shares during the quarter. Stewart & Patten Co. LLC’s holdings in Colgate-Palmolive were worth $880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Colgate-Palmolive during the fourth quarter valued at $731,843,000. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after acquiring an additional 4,625,472 shares during the period. Magellan Asset Management Ltd raised its stake in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after acquiring an additional 1,968,988 shares during the period. Confluence Investment Management LLC bought a new stake in Colgate-Palmolive in the 1st quarter valued at about $130,622,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Colgate-Palmolive during the fourth quarter worth about $62,728,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CL shares. Bank of America boosted their price target on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Evercore ISI raised their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Argus boosted their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Barclays increased their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, BNP Paribas began coverage on Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.83.

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 value of $326,864.59. Following the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 sale, the insider now directly 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 can be accessed through the SEC website. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $1.50 during trading on Monday, hitting $95.54. 4,203,777 shares of the stock traded hands, compared to its average volume of 4,504,297. The firm’s fifty day moving average is $93.87 and its 200-day moving average is $87.63. The stock has a market cap of $78.38 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $99.08. 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:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Colgate-Palmolive Company 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.