Veritable L.P. Cuts Stake in Colgate-Palmolive (NYSE:CL)

Veritable L.P. reduced its position in Colgate-Palmolive (NYSE:CL) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,530 shares of the company’s stock after selling 808 shares during the quarter. Veritable L.P.’s holdings in Colgate-Palmolive were worth $2,044,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Tucker Asset Management LLC acquired a new position in Colgate-Palmolive during the first quarter valued at $27,000. Register Financial Advisors LLC acquired a new position in Colgate-Palmolive during the first quarter valued at $30,000. Glass Jacobson Investment Advisors llc acquired a new position in Colgate-Palmolive during the second quarter valued at $36,000. Capital Advisors Ltd. LLC raised its position in shares of Colgate-Palmolive by 68.0% in the second quarter. Capital Advisors Ltd. LLC now owns 692 shares of the company’s stock worth $53,000 after acquiring an additional 280 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Colgate-Palmolive by 278.4% in the second quarter. Larson Financial Group LLC now owns 700 shares of the company’s stock worth $54,000 after acquiring an additional 515 shares during the period. 78.36% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $75.47 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 21.40. The stock has a market cap of $62.14 billion, a P/E ratio of 39.31, a PEG ratio of 3.37 and a beta of 0.46. The company has a 50-day moving average of $72.81 and a two-hundred day moving average of $75.29. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $82.09.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were issued a dividend of $0.48 per share. The ex-dividend date was Friday, October 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.54%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at Colgate-Palmolive

In other news, VP Gregory Malcolm sold 10,493 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $73.90, for a total transaction of $775,432.70. Following the completion of the sale, the vice president now directly owns 7,852 shares in the company, valued at $580,262.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Gregory Malcolm sold 10,493 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $73.90, for a total value of $775,432.70. Following the completion of the sale, the vice president now directly owns 7,852 shares in the company, valued at $580,262.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $75.11, for a total transaction of $225,330.00. Following the completion of the sale, the insider now owns 5,347 shares of the company’s stock, valued at $401,613.17. The disclosure for this sale can be found here. Insiders sold a total of 93,153 shares of company stock worth $6,851,466 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CL shares. Stifel Nicolaus raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and dropped their price target for the company from $85.00 to $81.00 in a research note on Monday, October 16th. HSBC started coverage on shares of Colgate-Palmolive in a report on Friday, September 22nd. They set a “buy” rating and a $84.00 target price on the stock. Jefferies Financial Group started coverage on shares of Colgate-Palmolive in a report on Monday. They set a “buy” rating and a $87.00 target price on the stock. Barclays reduced their target price on shares of Colgate-Palmolive from $81.00 to $73.00 and set an “equal weight” rating on the stock in a report on Thursday, October 12th. Finally, Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $89.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $82.57.

Colgate-Palmolive Company Profile

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.