Cornerstone Advisors LLC Sells 1,600 Shares of Colgate-Palmolive (NYSE:CL)

Cornerstone Advisors LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,631 shares of the company’s stock after selling 1,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Colgate-Palmolive were worth $3,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Union Savings Bank boosted its stake in shares of Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $25,000. PSI Advisors LLC boosted its stake in shares of Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Core Wealth Advisors Inc. raised its holdings in shares of Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after buying an additional 146 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in Colgate-Palmolive during the 1st quarter worth about $38,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CL. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. TD Cowen increased their price objective 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. UBS Group raised their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $102.79.

Colgate-Palmolive Trading Down 0.3 %

CL opened at $105.43 on Tuesday. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30. The company has a 50-day simple moving average of $102.26 and a 200 day simple moving average of $95.43. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The stock has a market capitalization of $86.50 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 3.72 and a beta of 0.40.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction dated 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 owns 5,146 shares of the company’s stock, valued at $529,729.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

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.