Colgate-Palmolive (NYSE:CL) Position Reduced by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,102 shares of the company’s stock after selling 508 shares during the period. Cullen Frost Bankers Inc.’s holdings in Colgate-Palmolive were worth $3,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Fisher Asset Management LLC raised its stake in Colgate-Palmolive by 1,019.7% during the fourth quarter. Fisher Asset Management LLC now owns 3,236 shares of the company’s stock valued at $258,000 after buying an additional 2,947 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Colgate-Palmolive by 3.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock worth $271,000 after purchasing an additional 127 shares during the period. Gryphon Financial Partners LLC acquired a new position in Colgate-Palmolive in the fourth quarter worth $225,000. Wealthspire Advisors LLC raised its holdings in shares of Colgate-Palmolive by 26.0% during the fourth quarter. Wealthspire Advisors LLC now owns 3,959 shares of the company’s stock worth $316,000 after purchasing an additional 818 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $366,000. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The disclosure for this sale can be found here. In the last three months, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Argus lifted their price target on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Wells Fargo & Company upped their target price on Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. TD Cowen increased their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Morgan Stanley boosted their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.53.

Colgate-Palmolive Price Performance

NYSE CL opened at $107.86 on Friday. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30. The firm has a market capitalization of $88.49 billion, a PE ratio of 34.13, a P/E/G ratio of 3.73 and a beta of 0.40. The company’s 50 day simple moving average is $101.07 and its 200 day simple moving average is $94.52. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last issued 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 company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) 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.