Colgate-Palmolive Company (NYSE:CL) Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its stake in Colgate-Palmolive Company by 5.4% during the first quarter, ending with 100,301 shares valued at approximately $9.4 million.
• Goldman Sachs increased its holdings by 34.5% to nearly 8 million shares, while other institutional investors have also made significant changes to their positions in the company.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding analysts' expectations, with a revenue of $5.11 billion, representing a 1% increase year-over-year.

Benjamin Edwards Inc. decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 100,301 shares of the company's stock after selling 5,713 shares during the period. Benjamin Edwards Inc.'s holdings in Colgate-Palmolive were worth $9,398,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 12.0% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,515 shares of the company's stock valued at $610,000 after buying an additional 700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Colgate-Palmolive by 1,320.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,826 shares of the company's stock valued at $13,008,000 after buying an additional 129,056 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $83,000. Nicholson Wealth Management Group LLC boosted its holdings in shares of Colgate-Palmolive by 1.2% in the 1st quarter. Nicholson Wealth Management Group LLC now owns 16,101 shares of the company's stock valued at $1,509,000 after buying an additional 195 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Colgate-Palmolive by 20.1% in the 1st quarter. Citigroup Inc. now owns 952,149 shares of the company's stock valued at $89,216,000 after buying an additional 159,565 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded up $0.47 on Tuesday, hitting $84.92. 5,191,470 shares of the company's stock traded hands, compared to its average volume of 4,832,030. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm's 50-day moving average price is $88.49 and its two-hundred day moving average price is $90.10. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The firm has a market capitalization of $68.63 billion, a PE ratio of 23.85, a P/E/G ratio of 4.40 and a beta of 0.35.

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 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 firm 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 business posted $0.91 EPS. The business's revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup lowered their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and a consensus price target of $98.92.

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.