Colgate-Palmolive (NYSE:CL) Stock Position Lowered by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its position in Colgate-Palmolive (NYSE:CL) by 6.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 48,764 shares of the company’s stock after selling 3,106 shares during the period. Axxcess Wealth Management LLC’s holdings in Colgate-Palmolive were worth $4,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Vanguard Group Inc. lifted its position in shares of Colgate-Palmolive by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock worth $6,368,378,000 after purchasing an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd boosted its stake in shares of Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after buying an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after acquiring an additional 2,955,442 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

NYSE CL opened at $104.59 on Wednesday. The stock has a 50-day simple moving average of $102.41 and a 200 day simple moving average of $95.55. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30. The stock has a market capitalization of $85.81 billion, a PE ratio of 33.10, a P/E/G ratio of 3.72 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last issued its quarterly 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. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Colgate-Palmolive’s payout ratio is 63.29%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Evercore ISI increased their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Bank of America lifted their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Citigroup lifted their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.79.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. 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. Insiders own 0.34% of the company’s stock.

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.