Parkside Financial Bank & Trust Sells 131 Shares of Colgate-Palmolive (NYSE:CL)

Parkside Financial Bank & Trust lowered its stake in Colgate-Palmolive (NYSE:CL) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,610 shares of the company’s stock after selling 131 shares during the period. Parkside Financial Bank & Trust’s holdings in Colgate-Palmolive were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares during the last quarter. Swedbank AB bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $286,370,000. Magellan Asset Management Ltd boosted its position in Colgate-Palmolive by 4,162.6% in the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the first quarter worth approximately $130,622,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $107.90 on Friday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The company has a market cap of $88.53 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.73 and a beta of 0.40. The business’s 50 day moving average price is $101.07 and its 200 day moving average price is $94.45. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. On average, research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Argus raised their target price on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.53.

Insider Activity at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares of the company’s stock, valued at $529,729.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

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.