Hancock Whitney Corp Reduces Position in Colgate-Palmolive (NYSE:CL)

Hancock Whitney Corp decreased its holdings in Colgate-Palmolive (NYSE:CL) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,841 shares of the company’s stock after selling 176 shares during the period. Hancock Whitney Corp’s holdings in Colgate-Palmolive were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Legacy Financial Advisors Inc. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $213,000. Westwood Holdings Group Inc. grew its holdings in Colgate-Palmolive by 35.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,362 shares of the company’s stock valued at $423,000 after buying an additional 1,151 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of Colgate-Palmolive by 2.6% during the second quarter. Summit Trail Advisors LLC now owns 5,490 shares of the company’s stock valued at $533,000 after buying an additional 141 shares during the period. Sei Investments Co. lifted its holdings in shares of Colgate-Palmolive by 1.8% in the second quarter. Sei Investments Co. now owns 609,139 shares of the company’s stock worth $59,111,000 after buying an additional 10,500 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Colgate-Palmolive by 70.9% in the second quarter. AE Wealth Management LLC now owns 22,607 shares of the company’s stock valued at $2,194,000 after acquiring an additional 9,382 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $103.06 on Monday. 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 firm’s fifty day simple moving average is $102.71 and its 200 day simple moving average is $95.89. The stock has a market cap of $84.55 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.91 earnings per share 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 firm 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 firm posted $0.77 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend 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 currently 63.29%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. TD Cowen boosted their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Finally, Morgan Stanley lifted their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

Insider Activity

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction 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 completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction that occurred 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 completion of 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. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last quarter. 0.34% of the stock is owned by company insiders.

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.