Meyer Handelman Co. Lowers Holdings in Colgate-Palmolive (NYSE:CL)

Meyer Handelman Co. decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,010 shares of the company’s stock after selling 13,396 shares during the quarter. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $18,168,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 1st quarter valued at approximately $38,000. Continuum Advisory LLC raised its stake in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Voisard Asset Management Group Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $40,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CL shares. UBS Group boosted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein raised their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, Barclays raised their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $106.00.

Colgate-Palmolive Stock Up 0.9 %

Shares of NYSE CL opened at $100.10 on Friday. The business has a 50-day moving average price of $103.56 and a 200 day moving average price of $97.15. The stock has a market cap of $82.13 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 52-week low of $68.54 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.00%. Colgate-Palmolive’s payout ratio is 63.29%.

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.