Colgate-Palmolive Company (NYSE:CL) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Colgate-Palmolive by 6.6% during the first quarter, holding 362,238 shares worth approximately $33.94 million at the end of the reporting period.
• Colgate-Palmolive recently posted earnings of $0.92 per share, exceeding estimates, along with a quarterly revenue of $5.11 billion, which was higher than the expected $5.03 billion.
• The company declared a quarterly dividend of $0.52 per share, set to be paid on August 15th, with a 2.5% annual yield.

US Bancorp DE decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,238 shares of the company's stock after selling 25,728 shares during the period. US Bancorp DE's holdings in Colgate-Palmolive were worth $33,942,000 at the end of the most recent reporting period.

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

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $0.27 during midday trading on Tuesday, reaching $83.09. The company's stock had a trading volume of 6,373,321 shares, compared to its average volume of 4,888,327. The stock has a fifty day moving average of $89.40 and a 200 day moving average of $90.27. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30. The firm has a market capitalization of $67.15 billion, a PE ratio of 23.34, a P/E/G ratio of 4.29 and a beta of 0.35. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business 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 company's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased 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. 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 report on Monday. UBS Group dropped 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 note on Thursday, July 17th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Barclays upped their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive 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.