Salem Investment Counselors Inc. Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Salem Investment Counselors Inc. reduced its stake in Colgate-Palmolive (NYSE:CLFree Report) by 2.5% in the first quarter, Holdings Channel.com reports. The fund owned 78,803 shares of the company’s stock after selling 2,030 shares during the period. Salem Investment Counselors Inc.’s holdings in Colgate-Palmolive were worth $7,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $731,843,000. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after purchasing an additional 4,625,472 shares during the period. Magellan Asset Management Ltd grew its position in shares of Colgate-Palmolive by 4,162.6% during the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after purchasing an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Colgate-Palmolive in the first quarter worth $130,622,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $62,728,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.3 %

Shares of Colgate-Palmolive stock traded up $0.32 during midday trading on Friday, reaching $97.27. 6,378,293 shares of the company’s stock traded hands, compared to its average volume of 3,211,211. The company has a market cap of $79.80 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. The stock has a 50 day moving average of $92.71 and a 200-day moving average of $86.85. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $97.67. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CLGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. Colgate-Palmolive’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is presently 63.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays upped their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Stifel Nicolaus boosted their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada upped their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $92.94.

Check Out Our Latest Research Report on CL

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.

See Also

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CLFree Report).

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

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