ProVise Management Group LLC Has $2.54 Million Stake in Colgate-Palmolive (NYSE:CL)

ProVise Management Group LLC cut its stake in Colgate-Palmolive (NYSE:CL) by 10.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,220 shares of the company’s stock after selling 3,000 shares during the quarter. ProVise Management Group LLC’s holdings in Colgate-Palmolive were worth $2,544,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CL. Union Savings Bank raised its position in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive during the 2nd quarter worth $25,000. Core Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at about $38,000. Finally, Continuum Advisory LLC lifted its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.2 %

CL opened at $101.98 on Friday. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30. The company has a market cap of $83.67 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The company has a 50 day moving average of $102.61 and a 200 day moving average of $95.65.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of the company’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 transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CL. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Bank of America lifted their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen upped their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus lifted their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $102.79.

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.