Argent Trust Co Sells 1,170 Shares of Colgate-Palmolive (NYSE:CL)

by · The Markets Daily

Argent Trust Co lessened its stake in shares of Colgate-Palmolive (NYSE:CL – Free Report) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,259 shares of the company’s stock after selling 1,170 shares during the quarter. Argent Trust Co’s holdings in Colgate-Palmolive were worth $13,514,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CL. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock worth $6,368,378,000 after acquiring an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 27.8% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd grew its position in Colgate-Palmolive by 4.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after purchasing an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. Sanford C. Bernstein lifted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price target for the company. in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.79.

Check Out Our Latest Stock Report on Colgate-Palmolive

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of the firm’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 value of $1,636,988.00. Following the completion of the transaction, the insider now directly 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 SEC, which can be accessed through this link. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock valued at $4,486,063 over the last quarter. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $104.59 on Wednesday. The business’s 50 day simple moving average is $102.41 and its 200 day simple moving average is $95.55. 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 $85.81 billion, a price-to-earnings ratio of 33.10, a PEG 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.

Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Colgate-Palmolive’s payout ratio is 63.29%.

About Colgate-Palmolive

(Free Report)

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.

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