Gateway Investment Advisers LLC Lowers Stake in Colgate-Palmolive (NYSE:CL)

Gateway Investment Advisers LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,390 shares of the company’s stock after selling 829 shares during the period. Gateway Investment Advisers LLC’s holdings in Colgate-Palmolive were worth $395,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Union Savings Bank lifted its position in Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Avion Wealth raised its holdings in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Colgate-Palmolive in the fourth quarter worth about $32,000. Core Wealth Advisors Inc. raised its holdings in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after buying an additional 146 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Colgate-Palmolive in the first quarter worth about $38,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Royal Bank of Canada lifted 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. Evercore ISI lifted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, BNP Paribas began coverage on shares of Colgate-Palmolive in a research note on Monday. They issued an “outperform” rating and a $109.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $98.22 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $99.08. The firm has a market capitalization of $80.58 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 3.63 and a beta of 0.39. The firm has a 50 day moving average of $93.22 and a 200 day moving average of $87.22.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction 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 transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. 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.