Capital Investment Advisors LLC Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Capital Investment Advisors LLC decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 89.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,249 shares of the company’s stock after selling 86,966 shares during the quarter. Capital Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $790,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tucker Asset Management LLC purchased a new position in shares of Colgate-Palmolive during the first quarter worth about $27,000. Register Financial Advisors LLC bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $30,000. Kepos Capital LP bought a new stake in Colgate-Palmolive in the 4th quarter worth approximately $40,000. Carmel Capital Partners LLC bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $42,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Colgate-Palmolive by 108.7% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 578 shares of the company’s stock worth $43,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Insider Buying and Selling

In related news, VP Gregory Malcolm sold 10,493 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $73.90, for a total value of $775,432.70. Following the sale, the vice president now directly owns 7,852 shares of the company’s stock, valued at $580,262.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Noel R. Wallace sold 48,627 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.37, for a total value of $3,567,762.99. Following the sale, the chief executive officer now directly owns 246,969 shares of the company’s stock, valued at $18,120,115.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gregory Malcolm sold 10,493 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $73.90, for a total value of $775,432.70. Following the completion of the sale, the vice president now directly owns 7,852 shares in the company, valued at $580,262.80. The disclosure for this sale can be found here. Insiders have sold a total of 105,501 shares of company stock valued at $7,838,332 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CL shares. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 31st. Barclays boosted their price objective on Colgate-Palmolive from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $73.85 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 28.43. The company has a market cap of $61.05 billion, a PE ratio of 41.03, a P/E/G ratio of 3.12 and a beta of 0.50. The business has a 50 day moving average of $75.06 and a 200 day moving average of $75.85. Colgate-Palmolive has a 52 week low of $67.84 and a 52 week high of $82.09.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 8.02%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.17 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.92 annualized dividend and a yield of 2.60%. Colgate-Palmolive’s payout ratio is 106.67%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.