Morse Asset Management Inc Has $631,000 Stake in Colgate-Palmolive (NYSE:CL)

Morse Asset Management Inc reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,500 shares of the company’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in Colgate-Palmolive were worth $631,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gryphon Financial Partners LLC acquired a new stake in Colgate-Palmolive in the fourth quarter worth $225,000. Cambridge Investment Research Advisors Inc. increased its position in Colgate-Palmolive by 6.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 184,902 shares of the company’s stock valued at $14,739,000 after buying an additional 10,589 shares in the last quarter. TCW Group Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $1,428,000. Orion Portfolio Solutions LLC raised its stake in Colgate-Palmolive by 13.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 50,526 shares of the company’s stock worth $4,062,000 after buying an additional 5,888 shares during the period. Finally, HCR Wealth Advisors bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $218,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

CL has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America boosted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Sanford C. Bernstein lifted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Finally, Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last quarter. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $103.06 on Monday. The business’s fifty day simple moving average is $102.71 and its 200 day simple moving average is $95.89. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30. The firm has a market capitalization of $84.55 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. As a group, analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

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.