Harbor Investment Advisory LLC Trims Holdings in Colgate-Palmolive (NYSE:CL)

Harbor Investment Advisory LLC lowered its holdings in Colgate-Palmolive (NYSE:CL) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,387 shares of the company’s stock after selling 660 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Colgate-Palmolive were worth $248,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive in the second quarter worth $25,000. Core Wealth Advisors Inc. lifted its position in shares of Colgate-Palmolive by 56.6% in the 4th 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 period. Rise Advisors LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at about $38,000. Continuum Advisory LLC increased its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new position in Colgate-Palmolive in the fourth quarter worth about $40,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

NYSE CL opened at $99.04 on Friday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The stock has a 50-day moving average of $103.65 and a 200 day moving average of $96.81. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The company has a market capitalization of $81.26 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.62 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly 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 firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. Colgate-Palmolive’s payout ratio is 63.29%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CL. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Evercore ISI upped their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $104.74.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 in the last ninety days. 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.