Stewart & Patten Co. LLC Lowers Stock Position in Colgate-Palmolive (NYSE:CL)

Stewart & Patten Co. LLC lessened its holdings in Colgate-Palmolive (NYSE:CL) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,770 shares of the company’s stock after selling 4,310 shares during the quarter. Stewart & Patten Co. LLC’s holdings in Colgate-Palmolive were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Colgate-Palmolive by 0.5% during the 4th 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 stake 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 buying an additional 4,625,472 shares in the last quarter. Morgan Stanley lifted its stake in Colgate-Palmolive by 3.2% in the 3rd quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock valued at $1,195,785,000 after buying an additional 514,559 shares in the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $731,843,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its stake in Colgate-Palmolive by 1.3% in the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,709,304 shares of the company’s stock valued at $534,799,000 after buying an additional 86,671 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated 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 sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CL shares. Royal Bank of Canada upped their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Morgan Stanley boosted their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, Bank of America boosted their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.83.

Colgate-Palmolive Stock Down 1.5 %

NYSE:CL traded down $1.50 on Monday, reaching $95.54. The stock had a trading volume of 4,203,777 shares, compared to its average volume of 4,504,297. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company has a 50-day moving average of $93.87 and a 200 day moving average of $87.63. The stock has a market cap of $78.38 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $99.08.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. On average, research analysts predict that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. Colgate-Palmolive’s payout ratio is 63.29%.

Colgate-Palmolive Profile

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.