Oppenheimer Asset Management Inc. Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Oppenheimer Asset Management Inc. decreased its holdings in Colgate-Palmolive (NYSE:CL) by 20.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 27,182 shares of the company’s stock after selling 7,006 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Colgate-Palmolive were worth $2,448,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Union Savings Bank grew its stake in shares of Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares during the period. PSI Advisors LLC grew its stake in shares of Colgate-Palmolive by 4,971.4% during the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares during the period. Avion Wealth grew its stake in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Finally, Core Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.3 %

CL stock traded up $0.31 during midday trading on Friday, reaching $98.07. The company’s stock had a trading volume of 2,564,827 shares, compared to its average volume of 3,782,388. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a fifty day simple moving average of $95.12 and a two-hundred day simple moving average of $88.82. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $99.08. The firm has a market capitalization of $80.46 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 3.60 and a beta of 0.39.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. Colgate-Palmolive’s payout ratio is 63.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BNP Paribas assumed coverage on Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. Barclays upped their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Argus upped their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley upped their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Finally, Royal Bank of Canada upped their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.33.

Insiders Place Their Bets

In other news, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

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.