Clifford Swan Investment Counsel LLC Sells 4,108 Shares of Colgate-Palmolive Company $CL

Key Points

• Clifford Swan Investment Counsel LLC reduced its holdings in Colgate-Palmolive by 2.7%, selling 4,108 shares during the second quarter, bringing their total ownership to 147,557 shares valued at approximately $13.41 million.
• Colgate-Palmolive's stock recently experienced a 1.6% increase, achieving a share price of $79.86, amid various institutional investors modifying their stakes in the company.
• The company announced a quarterly dividend of $0.52 per share, payable on November 14th, with a current dividend yield of 2.6% and a payout ratio of 58.43%.

Clifford Swan Investment Counsel LLC lowered its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,557 shares of the company's stock after selling 4,108 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Colgate-Palmolive were worth $13,413,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC raised its stake in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive in the first quarter valued at $29,000. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Colgate-Palmolive in the 1st quarter valued at about $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.6%

CL stock opened at $79.86 on Thursday. The company has a market cap of $64.54 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 4.61 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52 week low of $76.68 and a 52 week high of $100.18. The business has a 50-day simple moving average of $81.59 and a 200 day simple moving average of $87.08.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Thursday, September 25th. The Goldman Sachs Group reduced their price target on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Citigroup lowered their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Bank of America decreased their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.50.

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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