Colgate-Palmolive Company (NYSE:CL) Shares Sold by Associated Banc Corp

Key Points

• Associated Banc Corp reduced its stake in Colgate-Palmolive by 4.6%, now holding 69,408 shares valued at approximately $6.5 million.
• Colgate-Palmolive recently reported earnings per share of $0.92 for the quarter, surpassing analyst expectations of $0.89.
• Analysts have mixed ratings on Colgate-Palmolive, with a consensus rating of "Hold" and an average target price of $98.92.

Associated Banc Corp cut its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 69,408 shares of the company's stock after selling 3,310 shares during the period. Associated Banc Corp's holdings in Colgate-Palmolive were worth $6,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. iA Global Asset Management Inc. lifted its stake in shares of Colgate-Palmolive by 208.0% in the first quarter. iA Global Asset Management Inc. now owns 163,044 shares of the company's stock worth $15,277,000 after acquiring an additional 110,114 shares in the last quarter. LCM Capital Management Inc grew its stake in Colgate-Palmolive by 2.5% during the 1st quarter. LCM Capital Management Inc now owns 8,117 shares of the company's stock valued at $761,000 after purchasing an additional 195 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Colgate-Palmolive by 42.3% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 774 shares of the company's stock worth $73,000 after purchasing an additional 230 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Colgate-Palmolive by 29.8% in the 1st quarter. Atria Wealth Solutions Inc. now owns 56,063 shares of the company's stock valued at $5,253,000 after purchasing an additional 12,884 shares in the last quarter. Finally, Costello Asset Management INC boosted its stake in shares of Colgate-Palmolive by 410.1% during the 1st quarter. Costello Asset Management INC now owns 4,081 shares of the company's stock valued at $382,000 after buying an additional 3,281 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the subject of a number of research analyst reports. UBS Group dropped their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Morgan Stanley set a $96.00 price target on shares of Colgate-Palmolive and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.00 during midday trading on Friday, reaching $84.71. 4,133,894 shares of the company traded hands, compared to its average volume of 4,850,591. The firm has a market capitalization of $68.46 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 4.41 and a beta of 0.35. The company has a fifty day moving average price of $88.76 and a 200 day moving average price of $90.13. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.28. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

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.