Colgate-Palmolive Company (NYSE:CL) Shares Sold by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. reduced its stake in Colgate-Palmolive Company by 10.4%, selling 3,397 shares during the first quarter, bringing its total holdings to 29,273 shares valued at approximately $2.66 million.
• Colgate-Palmolive's quarterly earnings surpassed expectations, reporting $0.91 EPS against an estimate of $0.86, though revenue of $4.91 billion slightly missed analysts' expectations.
• The company declared a quarterly dividend of $0.52 per share, which will be paid on August 15th, reflecting an annualized yield of 2.37% and a dividend payout ratio of 58.76%.

Navellier & Associates Inc. lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,273 shares of the company's stock after selling 3,397 shares during the period. Navellier & Associates Inc.'s holdings in Colgate-Palmolive were worth $2,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Brighton Jones LLC increased its holdings in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares during the period. Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $36,000. Proficio Capital Partners LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $186,000. Financial Counselors Inc. increased its holdings in Colgate-Palmolive by 91.5% during the fourth quarter. Financial Counselors Inc. now owns 32,639 shares of the company's stock valued at $2,967,000 after buying an additional 15,598 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $399,000. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

CL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group dropped their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $100.77.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.52 during midday trading on Friday, reaching $87.93. The company had a trading volume of 3,186,104 shares, compared to its average volume of 4,561,019. The company has a market capitalization of $71.26 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.56 and a beta of 0.37. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The firm's fifty day simple moving average is $90.24 and its 200-day simple moving average is $90.35. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54.

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

Colgate-Palmolive Dividend Announcement

The firm 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 $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. Colgate-Palmolive's payout ratio is 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.