ProShare Advisors LLC Sells 126,184 Shares of Colgate-Palmolive (NYSE:CL)

ProShare Advisors LLC reduced its position in Colgate-Palmolive (NYSE:CL) by 5.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,130,040 shares of the company’s stock after selling 126,184 shares during the period. ProShare Advisors LLC owned 0.26% of Colgate-Palmolive worth $206,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Core Wealth Advisors Inc. raised its stake in Colgate-Palmolive by 56.6% in 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 during the period. Rise Advisors LLC bought a new stake in Colgate-Palmolive in the 1st quarter valued at about $38,000. Continuum Advisory LLC raised its stake in Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $40,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 1.0 %

Shares of CL opened at $103.06 on Friday. The firm has a market cap of $84.55 billion, a P/E ratio of 32.61, a P/E/G ratio of 3.72 and a beta of 0.40. The stock has a 50 day simple moving average of $102.71 and a two-hundred day simple moving average of $95.83. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid 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 (DPR) is presently 63.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CL. TD Cowen upped their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company cut Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a research report on Monday, September 16th. Barclays upped their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Morgan Stanley upped their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $102.79.

Insider Activity

In other news, 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 sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by company insiders.

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.