Fayerweather Charles Trims Stake in Colgate-Palmolive (NYSE:CL)

Fayerweather Charles reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,560 shares of the company’s stock after selling 260 shares during the period. Fayerweather Charles’ holdings in Colgate-Palmolive were worth $327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new position in Colgate-Palmolive in the first quarter worth $29,000. Lipe & Dalton purchased a new position in Colgate-Palmolive in the second quarter worth $29,000. WP Advisors LLC purchased a new position in Colgate-Palmolive in the first quarter worth $34,000. Princeton Global Asset Management LLC purchased a new position in Colgate-Palmolive in the first quarter worth $43,000. Finally, Paragon Capital Management LLC purchased a new position in Colgate-Palmolive in the first quarter worth $46,000. Hedge funds and other institutional investors own 75.52% of the company’s stock.

CL has been the subject of several research reports. Macquarie upped their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Friday, June 7th. Wells Fargo & Co upped their target price on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $73.13.

NYSE CL traded down $0.06 during trading on Friday, hitting $71.20. 3,813,538 shares of the company’s stock traded hands, compared to its average volume of 3,524,740. The business’s fifty day moving average price is $73.13. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.78 and a current ratio of 1.13. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $76.41. The firm has a market cap of $61.14 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 4.59 and a beta of 0.76.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive will post 2.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.42%. Colgate-Palmolive’s payout ratio is 57.91%.

In other news, SVP John J. Huston sold 14,039 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $70.59, for a total transaction of $991,013.01. Following the completion of the transaction, the senior vice president now directly owns 72,101 shares of the company’s stock, valued at $5,089,609.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Philip G. Shotts sold 8,800 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $71.66, for a total transaction of $630,608.00. Following the transaction, the vice president now directly owns 50,032 shares of the company’s stock, valued at $3,585,293.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 422,925 shares of company stock valued at $30,478,467. Company insiders own 1.14% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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