Morse Asset Management Inc Has $675,000 Holdings in Colgate-Palmolive (NYSE:CL)

Morse Asset Management Inc cut its holdings in Colgate-Palmolive (NYSE:CL) by 17.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the company’s stock after selling 1,611 shares during the quarter. Morse Asset Management Inc’s holdings in Colgate-Palmolive were worth $675,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CL. Mutual Advisors LLC raised its position in Colgate-Palmolive by 8.4% in the fourth quarter. Mutual Advisors LLC now owns 5,437 shares of the company’s stock valued at $433,000 after purchasing an additional 421 shares during the last quarter. Pacer Advisors Inc. raised its position in Colgate-Palmolive by 55.3% in the fourth quarter. Pacer Advisors Inc. now owns 117,244 shares of the company’s stock valued at $9,346,000 after purchasing an additional 41,731 shares during the last quarter. IFG Advisory LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at about $208,000. Procyon Advisors LLC raised its position in Colgate-Palmolive by 37.1% in the fourth quarter. Procyon Advisors LLC now owns 4,012 shares of the company’s stock valued at $320,000 after purchasing an additional 1,085 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Colgate-Palmolive in the fourth quarter valued at about $34,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CL shares. Bank of America increased their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday. Stifel Nicolaus raised their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI raised their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Barclays raised their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $98.58.

Colgate-Palmolive Stock Up 3.0 %

Colgate-Palmolive stock traded up $2.90 during mid-day trading on Friday, reaching $99.39. The stock had a trading volume of 7,137,452 shares, compared to its average volume of 3,712,450. 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 has a fifty-two week low of $67.62 and a fifty-two week high of $100.61. The stock’s 50-day simple moving average is $95.83 and its 200-day simple moving average is $90.20. The firm has a market capitalization of $81.54 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 3.59 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.55 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed 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 2.01%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive 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 transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction 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 $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction on Thursday, May 9th. The stock was 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. 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.