Cornerstone Advisors LLC Sells 8,100 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Cornerstone Advisors LLC has reduced its stake in Colgate-Palmolive by 19.4%, now holding 33,731 shares worth approximately $3.16 million.
• Equities analysts have mixed ratings for the stock, with one downgrade to "hold" and a consensus rating of "Hold", along with a projected average price target of $98.92.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share, set to be paid on August 15th, which reflects an annual yield of 2.5%.

Cornerstone Advisors LLC reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,731 shares of the company's stock after selling 8,100 shares during the period. Cornerstone Advisors LLC's holdings in Colgate-Palmolive were worth $3,161,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CL. Westend Capital Management LLC boosted its position in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $31,000. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $33,000. Finally, Accredited Wealth Management LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $34,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 0.0%

Shares of CL traded down $0.00 on Friday, reaching $84.71. 4,133,894 shares of the company's stock were exchanged, compared to its average volume of 4,850,591. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79. The stock has a market capitalization of $68.46 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 4.41 and a beta of 0.35. The business has a 50 day moving average price of $88.76 and a two-hundred day moving average price of $90.15. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30.

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

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $96.00 price target on shares of Colgate-Palmolive and gave the company an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive 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.