ProVise Management Group LLC Sells 7,690 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• ProVise Management Group LLC reduced its stake in Colgate-Palmolive Company by 36.2%, holding 13,558 shares valued at approximately $1,270,000 after selling 7,690 shares in the first quarter.
• Colgate-Palmolive reported a quarterly EPS of $0.92, exceeding analyst expectations by $0.03, with revenue of $5.11 billion, a slight increase of 1.0% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, with a payout ratio of 58.76% and an annual yield of 2.5%.

ProVise Management Group LLC decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 36.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,558 shares of the company's stock after selling 7,690 shares during the period. ProVise Management Group LLC's holdings in Colgate-Palmolive were worth $1,270,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CL. Westend Capital Management LLC increased its stake in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $31,000. Bernard Wealth Management Corp. bought a new stake in Colgate-Palmolive in the fourth quarter valued at $33,000. Finally, Accredited Wealth Management LLC bought a new position in Colgate-Palmolive in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL traded down $0.18 during trading on Monday, reaching $83.33. 5,536,344 shares of the company were exchanged, compared to its average volume of 4,901,203. The company has a current ratio of 0.43, a quick ratio of 0.28 and a debt-to-equity ratio of 8.96. The firm has a 50 day moving average of $89.59 and a 200 day moving average of $90.31. The stock has a market cap of $67.53 billion, a P/E ratio of 23.41, a PEG ratio of 4.31 and a beta of 0.35. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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 firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday. Finally, UBS Group decreased their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.