Valley National Advisers Inc. Sells 174 Shares of Colgate-Palmolive (NYSE:CL)

Valley National Advisers Inc. cut its holdings in Colgate-Palmolive (NYSE:CL) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,241 shares of the company’s stock after selling 174 shares during the period. Valley National Advisers Inc.’s holdings in Colgate-Palmolive were worth $111,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp increased its position in Colgate-Palmolive by 13.2% during the 3rd quarter. Truist Financial Corp now owns 322,496 shares of the company’s stock valued at $22,933,000 after purchasing an additional 37,564 shares during the period. Advisors Asset Management Inc. increased its holdings in Colgate-Palmolive by 29.1% during the third quarter. Advisors Asset Management Inc. now owns 7,027 shares of the company’s stock valued at $500,000 after buying an additional 1,586 shares during the period. AXQ Capital LP bought a new position in Colgate-Palmolive in the third quarter worth approximately $420,000. Ameriprise Financial Inc. lifted its holdings in Colgate-Palmolive by 25.8% during the third quarter. Ameriprise Financial Inc. now owns 1,878,062 shares of the company’s stock worth $131,558,000 after buying an additional 385,249 shares during the period. Finally, KPP Advisory Services LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at $654,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CL. Royal Bank of Canada boosted their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays raised their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Evercore ISI lifted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley increased their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $93.83.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.23 during trading hours on Wednesday, reaching $95.89. The stock had a trading volume of 2,114,411 shares, compared to its average volume of 4,483,130. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.08. The stock has a fifty day moving average of $94.17 and a 200 day moving average of $87.90. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a market cap of $78.67 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Colgate-Palmolive 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.