Colgate-Palmolive (NYSE:CL) Stake Lessened by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC lessened its stake in Colgate-Palmolive (NYSE:CL) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,697 shares of the company’s stock after selling 2,195 shares during the period. Laurel Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in Colgate-Palmolive during the third quarter valued at $25,000. Union Savings Bank increased its stake in Colgate-Palmolive by 76.6% during 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% during 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 bought a new stake in Colgate-Palmolive during the fourth quarter valued at $32,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Colgate-Palmolive during the fourth quarter valued at $34,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CL shares. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Stifel Nicolaus upped their price objective on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Barclays upped their price objective on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Finally, Morgan Stanley upped their price target on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Colgate-Palmolive Stock Up 1.9 %

Shares of CL traded up $1.72 during trading hours on Friday, reaching $91.01. The company’s stock had a trading volume of 7,541,541 shares, compared to its average volume of 3,968,951. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 3.35 and a beta of 0.42. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $92.25. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The company has a 50 day moving average of $87.66 and a two-hundred day moving average of $81.46.

Colgate-Palmolive (NYSE:CL) last issued its 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. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.5 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a $0.50 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is currently 71.94%.

Insider Buying and Selling

In related news, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares in the company, valued at $4,863,575.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gregory Malcolm sold 8,930 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $85.35, for a total value of $762,175.50. Following the transaction, the executive vice president now owns 8,043 shares in the company, valued at $686,470.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Daniels sold 61,633 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the sale, the insider now directly owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,371 shares of company stock worth $19,505,099. Insiders own 0.34% of the company’s stock.

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.