Congress Asset Management Co. MA Has $13.39 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Congress Asset Management Co. MA lessened its holdings in Colgate-Palmolive (NYSE:CL) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,643 shares of the company’s stock after selling 1,450 shares during the quarter. Congress Asset Management Co. MA’s holdings in Colgate-Palmolive were worth $13,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter worth about $731,843,000. Price T Rowe Associates Inc. MD boosted its position 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 in the last quarter. Magellan Asset Management Ltd increased its stake in Colgate-Palmolive by 4,162.6% in the fourth 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 last quarter. Confluence Investment Management LLC acquired a new position in Colgate-Palmolive during the first quarter valued at approximately $130,622,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Colgate-Palmolive during the fourth quarter worth $62,728,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Argus raised their price target on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. The Goldman Sachs Group began coverage on Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 target price for the company. Finally, Bank of America upped their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $92.94.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction 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 directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the business’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 sale, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Price Performance

CL stock opened at $97.27 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The company’s fifty day simple moving average is $92.71 and its 200 day simple moving average is $86.85. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $97.67. The firm has a market cap of $79.80 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.57 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.86 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 return on equity of 485.40% and a net margin of 13.22%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 EPS. On average, analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.06%. Colgate-Palmolive’s dividend payout ratio 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.