First Trust Advisors LP Sells 92,108 Shares of Colgate-Palmolive Company $CL

First Trust Advisors LP lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,904,290 shares of the company’s stock after selling 92,108 shares during the quarter. First Trust Advisors LP owned about 0.36% of Colgate-Palmolive worth $247,533,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC raised its stake in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management boosted its holdings in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the fourth quarter worth $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.3%

Colgate-Palmolive stock opened at $91.69 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock has a fifty day simple moving average of $90.70 and a two-hundred day simple moving average of $88.86. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market cap of $73.37 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CL. Wells Fargo & Company raised their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Sanford C. Bernstein initiated coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They set a “market perform” rating and a $96.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.82.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.