Colgate-Palmolive (NYSE:CL) Shares Sold by ETF Store Inc.

ETF Store Inc. lowered its stake in Colgate-Palmolive (NYSE:CL) by 14.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,913 shares of the company’s stock after selling 1,514 shares during the quarter. Colgate-Palmolive comprises 0.9% of ETF Store Inc.’s portfolio, making the stock its 24th largest position. ETF Store Inc.’s holdings in Colgate-Palmolive were worth $865,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Mitchell Sinkler & Starr PA boosted its position in 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 buying an additional 22,073 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its holdings 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 worth $30,594,000 after purchasing an additional 139,429 shares during the last quarter. D L Carlson Investment Group Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $3,269,000. Diversify Advisory Services LLC purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at approximately $911,000. Finally, TD Asset Management Inc grew its position in shares of Colgate-Palmolive by 2.4% during the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after buying an additional 26,987 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Evercore ISI lifted their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.53.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $108.60 on Friday. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The company has a market cap of $89.10 billion, a PE ratio of 34.34, a P/E/G ratio of 3.73 and a beta of 0.39. The stock has a 50 day simple moving average of $100.86 and a 200-day simple moving average of $94.28.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

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.