Coastal Bridge Advisors LLC Cuts Stake in Colgate-Palmolive (NYSE:CL)

Coastal Bridge Advisors LLC reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 24.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the company’s stock after selling 2,564 shares during the period. Coastal Bridge Advisors LLC’s holdings in Colgate-Palmolive were worth $637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cowen Prime Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $28,000. Horan Securities Inc. raised its holdings in Colgate-Palmolive by 60.1% in the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 128 shares during the period. Eagle Bay Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $32,000. First PREMIER Bank purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $33,000. Finally, Lumature Wealth Partners LLC purchased a new position in Colgate-Palmolive in the first quarter valued at approximately $59,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Colgate-Palmolive stock traded up $0.13 during mid-day trading on Wednesday, reaching $77.43. The company’s stock had a trading volume of 90,174 shares, compared to its average volume of 4,320,278. The firm has a market cap of $65.31 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.98 and a beta of 0.60. The business has a 50 day moving average price of $79.95 and a 200-day moving average price of $80.27. The company has a current ratio of 1.11, a quick ratio of 0.70 and a debt-to-equity ratio of 9.22. Colgate-Palmolive has a twelve month low of $74.14 and a twelve month high of $86.41.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Colgate-Palmolive had a net margin of 15.98% and a return on equity of 293.48%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Colgate-Palmolive will post 3.23 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 21st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.82%.

In related news, insider Jennifer Daniels sold 20,290 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $79.11, for a total transaction of $1,605,141.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lorrie M. Norrington sold 1,898 shares of the business’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $78.02, for a total transaction of $148,081.96. Following the completion of the sale, the director now owns 24,602 shares in the company, valued at $1,919,448.04. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Several research analysts recently commented on CL shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Colgate-Palmolive from $86.00 to $84.00 and set a “hold” rating on the stock in a report on Monday, August 2nd. Credit Suisse Group upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $95.00 in a research note on Wednesday, June 9th. UBS Group began coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Evercore ISI reiterated a “buy” rating and set a $95.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $85.54.

Colgate-Palmolive Profile

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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