Douglas Lane & Associates LLC Sells 527 Shares of Colgate-Palmolive (NYSE:CL)

Douglas Lane & Associates LLC trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,309 shares of the company’s stock after selling 527 shares during the period. Douglas Lane & Associates LLC’s holdings in Colgate-Palmolive were worth $2,068,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Federated Hermes Inc. grew its position in shares of Colgate-Palmolive by 560.2% during the 4th quarter. Federated Hermes Inc. now owns 288,537 shares of the company’s stock worth $22,999,000 after buying an additional 244,834 shares during the period. Mitchell Sinkler & Starr PA increased its stake in Colgate-Palmolive by 92.6% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock valued at $3,659,000 after purchasing an additional 22,073 shares in the last quarter. Xponance Inc. boosted its position in shares of Colgate-Palmolive by 7.9% during the fourth quarter. Xponance Inc. now owns 182,775 shares of the company’s stock worth $14,569,000 after purchasing an additional 13,342 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of Colgate-Palmolive by 57.1% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 383,819 shares of the company’s stock valued at $30,594,000 after buying an additional 139,429 shares during the period. Finally, D L Carlson Investment Group Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter worth $3,269,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Sanford C. Bernstein upped their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Argus boosted their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Barclays raised their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.11.

Insider Activity

In other news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction on 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 directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $1.68 during trading on Tuesday, reaching $102.65. 5,267,206 shares of the stock were exchanged, compared to its average volume of 4,449,524. The firm has a market cap of $84.22 billion, a PE ratio of 32.48, a PEG ratio of 3.54 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.28 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $104.15. The stock has a 50-day moving average price of $96.64 and a 200-day moving average price of $91.05.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) 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 firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. Research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.95%. Colgate-Palmolive’s dividend payout ratio is presently 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.