Bar Harbor Wealth Management Sells 10,236 Shares of Colgate-Palmolive Company $CL

Key Points

• Bar Harbor Wealth Management reduced its stake in Colgate-Palmolive by 7.9%, selling 10,236 shares, which leaves them with a total of 118,568 shares valued at approximately $10.78 million.
• Several institutional investors have recently changed their holdings in Colgate-Palmolive, with some, like Westend Capital Management, increasing their stakes significantly.
• Analysts have lowered their price targets for Colgate-Palmolive, with Morgan Stanley and Barclays among those revising their recommendations, while the company continues to offer a quarterly dividend of $0.52.

Bar Harbor Wealth Management cut its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,568 shares of the company's stock after selling 10,236 shares during the period. Bar Harbor Wealth Management's holdings in Colgate-Palmolive were worth $10,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Westend Capital Management LLC boosted its stake in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter worth approximately $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, October 2nd. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $93.23.

Colgate-Palmolive Price Performance

NYSE:CL opened at $77.96 on Thursday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market cap of $63.01 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34. The company has a 50 day moving average price of $82.79 and a 200-day moving average price of $88.08. Colgate-Palmolive Company has a 1-year low of $77.09 and a 1-year high of $102.61.

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

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

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.

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