Berger Financial Group Inc Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Berger Financial Group Inc reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,225 shares of the company’s stock after selling 1,965 shares during the period. Berger Financial Group Inc’s holdings in Colgate-Palmolive were worth $4,640,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Tucker Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in Colgate-Palmolive during the 1st quarter valued at approximately $30,000. Glass Jacobson Investment Advisors llc purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $36,000. Capital Advisors Ltd. LLC raised its position in shares of Colgate-Palmolive by 68.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 692 shares of the company’s stock worth $53,000 after acquiring an additional 280 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Colgate-Palmolive by 278.4% in the 2nd quarter. Larson Financial Group LLC now owns 700 shares of the company’s stock valued at $54,000 after purchasing an additional 515 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CL. HSBC began coverage on Colgate-Palmolive in a report on Friday, September 22nd. They issued a “buy” rating and a $84.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Royal Bank of Canada raised their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company a “sector perform” rating in a research note on Monday, October 30th. Bank of America dropped their price target on Colgate-Palmolive from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus raised Colgate-Palmolive from a “hold” rating to a “buy” rating and reduced their price objective for the company from $85.00 to $81.00 in a research report on Monday, October 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $82.57.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 48,627 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $73.37, for a total value of $3,567,762.99. Following the transaction, the chief executive officer now owns 246,969 shares in the company, valued at approximately $18,120,115.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Colgate-Palmolive news, Director Lorrie M. Norrington sold 6,329 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $74.56, for a total value of $471,890.24. Following the completion of the sale, the director now owns 31,307 shares in the company, valued at $2,334,249.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 48,627 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $73.37, for a total value of $3,567,762.99. Following the completion of the transaction, the chief executive officer now directly owns 246,969 shares in the company, valued at approximately $18,120,115.53. The disclosure for this sale can be found here. Insiders sold a total of 93,153 shares of company stock worth $6,851,466 in the last three months. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

CL traded down $0.52 during midday trading on Wednesday, hitting $76.14. 626,585 shares of the company traded hands, compared to its average volume of 4,686,010. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 21.40. The company’s 50-day moving average is $72.74 and its 200 day moving average is $75.29. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $82.09. The firm has a market capitalization of $62.69 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 3.37 and a beta of 0.46.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 27th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.81 billion. Colgate-Palmolive had a net margin of 8.29% and a return on equity of 533.40%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, research analysts expect that Colgate-Palmolive will post 3.2 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.92 annualized dividend and a yield of 2.52%. Colgate-Palmolive’s payout ratio is 100.00%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.