Colgate-Palmolive Company $CL Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 51.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,655 shares of the company’s stock after selling 55,821 shares during the period. NewEdge Advisors LLC’s holdings in Colgate-Palmolive were worth $4,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in Colgate-Palmolive in the 4th quarter worth about $861,670,000. Bank of New York Mellon Corp raised its holdings in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after acquiring an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $236,682,000. Finally, Deutsche Bank AG boosted its stake in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price for the company. Bank of America reduced their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $91.56 on Friday. The business’s 50 day moving average price is $90.96 and its 200 day moving average price is $89.42. The company has a market cap of $73.27 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 4.92 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

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

Colgate-Palmolive Announces Dividend

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

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.