Everett Harris & Co. CA Has $72.01 Million Stake in Colgate-Palmolive (NYSE:CL)

Everett Harris & Co. CA lowered its position in Colgate-Palmolive (NYSE:CL) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,625 shares of the company’s stock after selling 13,808 shares during the quarter. Colgate-Palmolive makes up about 1.0% of Everett Harris & Co. CA’s investment portfolio, making the stock its 25th largest holding. Everett Harris & Co. CA owned 0.10% of Colgate-Palmolive worth $72,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Colgate-Palmolive during the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after buying an additional 4,625,472 shares during the last quarter. Magellan Asset Management Ltd raised its holdings 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 acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $130,622,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Colgate-Palmolive by 461.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock worth $93,311,000 after acquiring an additional 851,671 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Morgan Stanley boosted their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Barclays raised their price target 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. Argus boosted their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Royal Bank of Canada raised their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.23 during midday trading on Thursday, reaching $95.89. The company’s stock had a trading volume of 2,114,672 shares, compared to its average volume of 4,069,581. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The stock has a market cap of $78.67 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 3.54 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 business has a 50-day moving average price of $94.31 and a 200-day moving average price of $87.95.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company 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 firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. On average, sell-side analysts predict that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Insider Activity

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the company’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 completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other 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 transaction of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

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.