Morse Asset Management Inc Trims Position in Colgate-Palmolive (NYSE:CL)

Morse Asset Management Inc trimmed its position in Colgate-Palmolive (NYSE:CL) by 13.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,500 shares of the company’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in Colgate-Palmolive were worth $631,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC increased its stake in Colgate-Palmolive by 46.5% in 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 last quarter. Core Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 56.6% in 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 during the last quarter. Rise Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $38,000. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $40,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CL shares. Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company cut shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective on the stock. in a research report on Monday, September 16th. Evercore ISI upped their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. TD Cowen raised their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $103.06 on Monday. 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 has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. 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. The business has a 50 day moving average price of $102.71 and a 200-day moving average price of $95.89.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. Equities research analysts predict that Colgate-Palmolive will post 3.57 earnings per share 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 issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 approximately $1,220,874.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gregory Malcolm sold 10,533 shares of the business’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 $1,069,868.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock valued at $4,486,063 over the last ninety days. 0.34% of the stock is owned by insiders.

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.