First City Capital Management Inc. Has $429,000 Stake in Colgate-Palmolive (NYSE:CL)

First City Capital Management Inc. lowered its position in Colgate-Palmolive (NYSE:CL) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 4,420 shares of the company’s stock after selling 120 shares during the quarter. First City Capital Management Inc.’s holdings in Colgate-Palmolive were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Core Wealth Advisors Inc. raised its stake in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after buying an additional 146 shares during the period. Rise Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $38,000. Continuum Advisory LLC boosted its stake in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $40,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CL. TD Cowen lifted their price objective on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Stifel Nicolaus upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Evercore ISI lifted their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $102.79.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $103.06 on Friday. The firm has a market cap of $84.55 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The firm’s fifty day moving average is $102.71 and its 200-day moving average is $95.83. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred 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 sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.