Gries Financial LLC Decreases Stock Position in Colgate-Palmolive (NYSE:CL)

Gries Financial LLC cut its position in Colgate-Palmolive (NYSE:CL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,716 shares of the company’s stock after selling 125 shares during the quarter. Gries Financial LLC’s holdings in Colgate-Palmolive were worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Mitchell Sinkler & Starr PA raised its position in shares of Colgate-Palmolive by 92.6% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock valued at $3,659,000 after purchasing an additional 22,073 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd boosted its stake in Colgate-Palmolive by 57.1% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 383,819 shares of the company’s stock valued at $30,594,000 after acquiring an additional 139,429 shares during the last quarter. D L Carlson Investment Group Inc. acquired a new position in Colgate-Palmolive during the 4th quarter worth $3,269,000. Diversify Advisory Services LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $911,000. Finally, TD Asset Management Inc raised its stake in shares of Colgate-Palmolive by 2.4% in the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock valued at $103,969,000 after purchasing an additional 26,987 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CL has been the topic of several research reports. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus boosted their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, TD Cowen raised their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.53.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $0.82 on Wednesday, hitting $108.60. The company had a trading volume of 1,382,950 shares, compared to its average volume of 4,311,994. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $108.98. The company has a market cap of $89.10 billion, a PE ratio of 34.39, a PEG ratio of 3.73 and a beta of 0.39. The business has a 50-day simple moving average of $100.44 and a 200-day simple moving average of $94.08. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 1.84%. Colgate-Palmolive’s payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the completion of the transaction, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last ninety days. 0.34% of the stock is currently owned by company 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.