Vicus Capital Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Vicus Capital reduced its stake in Colgate-Palmolive (NYSE:CL) by 21.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,368 shares of the company’s stock after selling 35,582 shares during the period. Colgate-Palmolive makes up approximately 1.1% of Vicus Capital’s portfolio, making the stock its 22nd biggest position. Vicus Capital’s holdings in Colgate-Palmolive were worth $11,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Colgate-Palmolive by 76.7% in the 3rd quarter. Federated Hermes Inc. now owns 43,703 shares of the company’s stock valued at $3,108,000 after acquiring an additional 18,970 shares in the last quarter. Ancora Advisors LLC grew its position in Colgate-Palmolive by 3.7% in the 3rd quarter. Ancora Advisors LLC now owns 14,998 shares of the company’s stock valued at $1,067,000 after acquiring an additional 541 shares in the last quarter. Ironwood Investment Counsel LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $555,000. Gotham Asset Management LLC grew its position in Colgate-Palmolive by 48.1% in the 3rd quarter. Gotham Asset Management LLC now owns 70,316 shares of the company’s stock valued at $5,000,000 after acquiring an additional 22,832 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Colgate-Palmolive by 16.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,422,663 shares of the company’s stock valued at $172,276,000 after acquiring an additional 340,534 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. Argus boosted their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Bank of America boosted their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley boosted their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Citigroup boosted their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus boosted their price objective on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $97.04 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.08. The stock has a 50 day moving average of $93.87 and a two-hundred day moving average of $87.57. The stock has a market cap of $79.62 billion, a P/E ratio of 30.71, a P/E/G ratio of 3.57 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.