Philadelphia Trust Co. Trims Holdings in Colgate-Palmolive Company $CL

Key Points

• Philadelphia Trust Co. reduced its stake in Colgate-Palmolive by 26.6%, now holding 62,745 shares worth approximately $5.88 million.
• Several institutional investors have increased their holdings, with Vanguard Group Inc. owning the highest stake at $7.66 billion after raising its shares by 0.6%.
• Colgate-Palmolive recently reported quarterly earnings of $0.92 EPS, surpassing expectations, alongside declaring a quarterly dividend of $0.52 per share, reflecting a dividend yield of 2.4%.

Philadelphia Trust Co. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 26.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,745 shares of the company's stock after selling 22,715 shares during the period. Philadelphia Trust Co.'s holdings in Colgate-Palmolive were worth $5,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CL. Nuveen LLC bought a new position in Colgate-Palmolive during the first quarter worth about $217,593,000. Goldman Sachs Group Inc. boosted its position in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after purchasing an additional 2,045,191 shares during the period. Deutsche Bank AG boosted its position in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $111,738,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 1.7%

Shares of NYSE CL traded up $1.4590 during mid-day trading on Tuesday, hitting $85.7190. The stock had a trading volume of 4,548,147 shares, compared to its average volume of 4,839,570. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The business has a 50 day moving average price of $88.07 and a two-hundred day moving average price of $89.98. The firm has a market cap of $69.28 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 4.38 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for 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%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. UBS Group cut their price objective 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. Barclays raised their price objective 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. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average target price of $98.92.

About Colgate-Palmolive

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.