Platform Technology Partners Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Platform Technology Partners lowered its stake in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,318 shares of the company’s stock after selling 236 shares during the period. Platform Technology Partners’ holdings in Colgate-Palmolive were worth $892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Hallmark Capital Management Inc. boosted its holdings in Colgate-Palmolive by 158.2% in the 3rd quarter. Hallmark Capital Management Inc. now owns 408 shares of the company’s stock worth $29,000 after buying an additional 250 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Colgate-Palmolive in the third quarter valued at approximately $35,000. Norway Savings Bank lifted its holdings in Colgate-Palmolive by 57.8% in the third quarter. Norway Savings Bank now owns 546 shares of the company’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Colgate-Palmolive in the third quarter valued at approximately $42,000. Finally, Zions Bancorporation N.A. lifted its holdings in Colgate-Palmolive by 30.1% in the third quarter. Zions Bancorporation N.A. now owns 666 shares of the company’s stock valued at $47,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CL. TheStreet lowered Colgate-Palmolive from a “b” rating to a “c+” rating in a research report on Friday, January 27th. Wolfe Research began coverage on Colgate-Palmolive in a research report on Monday, November 21st. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Colgate-Palmolive from $87.00 to $84.00 in a report on Monday, January 30th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Finally, Barclays decreased their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.09.

Colgate-Palmolive Stock Down 1.0 %

Shares of NYSE:CL traded down $0.75 during midday trading on Friday, hitting $72.20. 9,106,081 shares of the company’s stock traded hands, compared to its average volume of 4,549,424. The company has a debt-to-equity ratio of 10.84, a quick ratio of 0.76 and a current ratio of 1.28. The company has a market cap of $59.95 billion, a PE ratio of 33.90, a P/E/G ratio of 3.76 and a beta of 0.48. The firm’s fifty day moving average price is $74.18 and its two-hundred day moving average price is $75.07. Colgate-Palmolive has a twelve month low of $67.84 and a twelve month high of $83.81.

Colgate-Palmolive (NYSE:CL – Get Rating) last posted its earnings results on Friday, January 27th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.58 billion. Colgate-Palmolive had a net margin of 9.93% and a return on equity of 317.08%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.1 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be paid a dividend of $0.48 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $1.92 annualized dividend and a yield of 2.66%. Colgate-Palmolive’s payout ratio is 88.26%.

Colgate-Palmolive Company Profile

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through the Oral, Personal and Home Care, and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.