FORVIS Wealth Advisors LLC Cuts Position in Colgate-Palmolive (NYSE:CL)

FORVIS Wealth Advisors LLC reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 5.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,566 shares of the company’s stock after selling 1,163 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $1,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Union Savings Bank raised its holdings in Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Avion Wealth boosted its position in shares of Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $32,000. Core Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth about $34,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus boosted their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Finally, Argus raised their price target on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $93.83.

Colgate-Palmolive Trading Up 0.5 %

Shares of Colgate-Palmolive stock traded up $0.44 during trading hours on Friday, reaching $96.33. The stock had a trading volume of 140,164 shares, compared to its average volume of 4,449,201. The firm has a market capitalization of $79.03 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 3.53 and a beta of 0.39. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $99.08. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The firm has a 50 day simple moving average of $94.44 and a two-hundred day simple moving average of $88.01.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results 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 net margin of 13.22% and a return on equity of 485.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the company posted $0.73 earnings per share. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insiders Place Their Bets

In related news, insider Sally Massey sold 12,226 shares of the business’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 transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive 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 sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The shares were 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 of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive Company 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.