SVB Wealth LLC Decreases Position in Colgate-Palmolive (NYSE:CL)

SVB Wealth LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,487 shares of the company’s stock after selling 2,396 shares during the quarter. SVB Wealth LLC’s holdings in Colgate-Palmolive were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Union Savings Bank raised its position in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the second quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. PSI Advisors LLC lifted its stake in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after acquiring an additional 348 shares during the last quarter. Finally, Core Wealth Advisors Inc. grew its holdings in Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.6 %

CL opened at $107.86 on Friday. The business has a 50 day moving average price of $101.07 and a two-hundred day moving average price of $94.52. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The company has a market cap of $88.49 billion, a PE ratio of 34.13, a P/E/G ratio of 3.73 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CL. Sanford C. Bernstein raised their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. TD Cowen increased their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.53.

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.