Sunbelt Securities Inc. Cuts Holdings in Colgate-Palmolive (NYSE:CL)

Sunbelt Securities Inc. lessened its position in shares of Colgate-Palmolive (NYSE:CL) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,872 shares of the company’s stock after selling 310 shares during the period. Sunbelt Securities Inc.’s holdings in Colgate-Palmolive were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Union Savings Bank increased its position in Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Avion Wealth increased its position in shares of Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $32,000. Core Wealth Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter worth $34,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Citigroup upped their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their price objective on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research note on Monday. They issued an “outperform” rating and a $109.00 target price for the company. Finally, 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. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $93.83.

Insiders Place Their Bets

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

Colgate-Palmolive Price Performance

Shares of CL opened at $98.17 on Friday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The company has a market cap of $80.54 billion, a P/E ratio of 31.07, a PEG ratio of 3.63 and a beta of 0.39. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The stock has a fifty day moving average price of $93.45 and a 200 day moving average price of $87.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.96 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

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.