Capital City Trust Co. FL Decreases Stake in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Capital City Trust Co. FL has reduced its stake in Colgate-Palmolive by 7.5%, selling 4,442 shares, and currently holds 54,922 shares valued at approximately $5.15 million.
• Colgate-Palmolive reported earnings per share of $0.91 for the last quarter, surpassing analyst estimates, despite a year-over-year revenue decline of 3%.
• The company announced a quarterly dividend of $0.52 per share, with an expected annualized yield of 2.37%, reflecting a payout ratio of 58.76%.

Capital City Trust Co. FL trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,922 shares of the company's stock after selling 4,442 shares during the period. Colgate-Palmolive comprises 1.4% of Capital City Trust Co. FL's holdings, making the stock its 24th biggest holding. Capital City Trust Co. FL's holdings in Colgate-Palmolive were worth $5,146,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC boosted its position in Colgate-Palmolive by 111.1% in the 1st 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 position in shares of 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 during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $36,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CL shares. Barclays upped their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. UBS Group lowered 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 report on Thursday, July 17th. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Piper Sandler lowered their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $100.77.

Colgate-Palmolive Stock Down 1.7%

NYSE:CL traded down $1.48 during midday trading on Monday, reaching $86.45. 4,821,224 shares of the stock traded hands, compared to its average volume of 4,373,016. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The business has a 50-day moving average of $90.13 and a two-hundred day moving average of $90.39. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market capitalization of $70.06 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 4.53 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.41%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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.