State of Alaska Department of Revenue Sells 18,870 Shares of Colgate-Palmolive (NYSE:CL)

State of Alaska Department of Revenue decreased its holdings in Colgate-Palmolive (NYSE:CL) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,469 shares of the company’s stock after selling 18,870 shares during the period. State of Alaska Department of Revenue’s holdings in Colgate-Palmolive were worth $13,279,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Union Savings Bank lifted its holdings in shares of Colgate-Palmolive by 76.6% in 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 last quarter. Avion Wealth lifted its stake 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 purchasing an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth about $32,000. Core Wealth Advisors Inc. lifted its stake 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 purchasing an additional 146 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in Colgate-Palmolive in the first quarter worth about $38,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several analyst reports. Barclays raised their price objective on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price on the stock. Evercore ISI raised their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, Argus raised their target price on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Insider Activity at Colgate-Palmolive

In related 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 transaction of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sally Massey sold 12,226 shares of the company’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 completion of the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Down 0.2 %

NYSE:CL opened at $95.89 on Thursday. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The firm has a fifty day simple moving average of $94.17 and a 200-day simple moving average of $87.90. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company has a market capitalization of $78.67 billion, a P/E ratio of 30.35, a PEG ratio of 3.54 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $5.07 billion during 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%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. Colgate-Palmolive’s dividend payout ratio is presently 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.