Bangor Savings Bank Sells 700 Shares of Colgate-Palmolive (NYSE:CL)

Bangor Savings Bank cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 40.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,029 shares of the company’s stock after selling 700 shares during the quarter. Bangor Savings Bank’s holdings in Colgate-Palmolive were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after buying an additional 416,853 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after purchasing an additional 4,625,472 shares in the last quarter. Morgan Stanley raised its stake in Colgate-Palmolive by 3.2% in the third quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock worth $1,195,785,000 after buying an additional 514,559 shares in the last quarter. Norges Bank bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $731,843,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its stake in shares of Colgate-Palmolive by 1.3% in the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,709,304 shares of the company’s stock valued at $534,799,000 after purchasing an additional 86,671 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was 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 of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $97.27 on Monday. The firm’s fifty day moving average is $92.71 and its two-hundred day moving average is $86.92. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $97.67. The company has a market cap of $79.80 billion, a P/E ratio of 30.78, a P/E/G ratio of 3.57 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. BNP Paribas started coverage on Colgate-Palmolive in a research note on Monday. They issued an “outperform” rating and a $109.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Royal Bank of Canada raised their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Morgan Stanley increased their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, Argus upped their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

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.