Associated Banc Corp Sells 3,310 Shares of Colgate-Palmolive Company (NYSE:CL)

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after acquiring an additional 110 shares during the period. Aberdeen Wealth Management LLC raised its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock worth $1,877,000 after acquiring an additional 125 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Colgate-Palmolive by 4.0% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock worth $317,000 after purchasing an additional 130 shares during the period. Continuum Advisory LLC increased its stake in shares of Colgate-Palmolive by 17.2% in the fourth quarter. Continuum Advisory LLC now owns 893 shares of the company's stock worth $81,000 after purchasing an additional 131 shares in the last quarter. Finally, KFG Wealth Management LLC raised its position in shares of Colgate-Palmolive by 1.5% during the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after purchasing an additional 131 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.0%

Shares of Colgate-Palmolive stock traded up $0.04 on Thursday, reaching $84.65. The company had a trading volume of 4,000,187 shares, compared to its average volume of 4,877,156. The firm's 50-day moving average price is $88.92 and its two-hundred day moving average price is $90.15. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The firm has a market cap of $68.42 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 4.40 and a beta of 0.35. 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 (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on CL. Barclays upped their price objective 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. Citigroup lowered their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday. UBS Group reduced their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus price target of $98.92.

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.