City Holding Co. Decreases Stake in Colgate-Palmolive (NYSE:CL)

City Holding Co. lowered its position in Colgate-Palmolive (NYSE:CL) by 6.1% in the first quarter, Holdings Channel reports. The fund owned 7,985 shares of the company’s stock after selling 520 shares during the period. City Holding Co.’s holdings in Colgate-Palmolive were worth $719,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $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 purchasing an additional 4,625,472 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of Colgate-Palmolive by 4,162.6% during the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth $130,622,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $62,728,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CL. Morgan Stanley boosted their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Argus boosted their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their price objective on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted 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. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Colgate-Palmolive Stock Performance

Shares of CL stock traded up $0.91 on Monday, hitting $98.18. 483,426 shares of the stock traded hands, compared to its average volume of 4,419,982. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The company has a market capitalization of $80.55 billion, a PE ratio of 30.78, a PEG ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $98.19. The company’s fifty day moving average is $92.71 and its 200 day moving average is $86.92.

Colgate-Palmolive (NYSE:CL) last posted 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 business 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 business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. On average, equities research analysts predict that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the stock in a transaction 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 sale, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction 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 directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. Corporate insiders own 0.34% 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.