Colgate-Palmolive (NYSE:CL) Stock Position Reduced by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,441 shares of the company’s stock after selling 166 shares during the period. Silverlake Wealth Management LLC’s holdings in Colgate-Palmolive were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Norges Bank bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $731,843,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after acquiring an additional 4,625,472 shares during the period. Magellan Asset Management Ltd boosted its position in shares of Colgate-Palmolive by 4,162.6% during the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after acquiring an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC bought a new position in Colgate-Palmolive during the first quarter worth about $130,622,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Colgate-Palmolive by 461.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock valued at $93,311,000 after purchasing an additional 851,671 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CL shares. Argus lifted their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley upped their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Bank of America raised their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. BNP Paribas began coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 target price for the company. Finally, Stifel Nicolaus raised their price target 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 analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Trading Up 0.6 %

Shares of CL stock opened at $96.12 on Wednesday. The stock’s fifty day simple moving average is $94.02 and its 200 day simple moving average is $87.76. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.08. The firm has a market capitalization of $78.86 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.57 and a beta of 0.39. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive 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 directly owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

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.