MV Capital Management Inc. Sells 490 Shares of Colgate-Palmolive (NYSE:CL)

MV Capital Management Inc. lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 49.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 497 shares of the company’s stock after selling 490 shares during the quarter. MV Capital Management Inc.’s holdings in Colgate-Palmolive were worth $45,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CL. Union Savings Bank lifted its position in Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Avion Wealth increased its position in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $32,000. Core Wealth Advisors Inc. boosted its position 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 acquiring an additional 146 shares during the period. Finally, Rise Advisors LLC acquired a new position in shares of Colgate-Palmolive in the first quarter valued at about $38,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction on 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 disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Trading Up 0.6 %

Shares of CL stock opened at $96.12 on Wednesday. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.08. The stock’s fifty day simple moving average is $94.02 and its 200 day simple moving average is $87.76. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The firm has a market capitalization of $78.86 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.57 and a beta of 0.39.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders 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 dividend yield of 2.08%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CL shares. Evercore ISI lifted their price objective 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. Wells Fargo & Company increased their price target on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Stifel Nicolaus lifted their price objective on Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 29th. Barclays increased their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, Argus boosted their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Three 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, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $93.83.

Colgate-Palmolive Company 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.