NewEdge Advisors LLC Sells 55,821 Shares of Colgate-Palmolive Company $CL

NewEdge Advisors LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 51.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,655 shares of the company's stock after selling 55,821 shares during the quarter. NewEdge Advisors LLC's holdings in Colgate-Palmolive were worth $4,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Teacher Retirement System of Texas raised its position in Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock worth $37,110,000 after buying an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock valued at $15,881,000 after acquiring an additional 13,804 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of Colgate-Palmolive by 116.5% in the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company's stock valued at $5,121,000 after acquiring an additional 34,879 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $91,149,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Colgate-Palmolive by 10.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company's stock worth $17,498,000 after purchasing an additional 21,109 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 2.1%

CL stock opened at $91.56 on Friday. The company's 50-day simple moving average is $90.96 and its 200-day simple moving average is $89.42. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $73.27 billion, a P/E ratio of 35.63, a PEG ratio of 4.92 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 82.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CL. Bank of America decreased their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a report on Friday, April 10th. Weiss Ratings raised Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Citigroup lifted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.82.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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