Smith Moore & CO. Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Smith Moore & CO. decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,550 shares of the company’s stock after selling 194 shares during the quarter. Smith Moore & CO.’s holdings in Colgate-Palmolive were worth $940,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $98,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Colgate-Palmolive by 17.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,294,736 shares of the company’s stock worth $105,327,000 after purchasing an additional 196,939 shares during the period. Connors Investor Services Inc. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $444,000. Empirical Finance LLC increased its holdings in Colgate-Palmolive by 16.6% in the 2nd quarter. Empirical Finance LLC now owns 10,125 shares of the company’s stock worth $824,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV boosted its holdings in Colgate-Palmolive by 6.6% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 14,835 shares of the company’s stock worth $1,207,000 after buying an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.

CL has been the subject of several recent research reports. Evercore ISI reissued a “buy” rating and issued a $95.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, June 20th. UBS Group assumed coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 price target on the stock. Credit Suisse Group raised shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $95.00 in a research note on Wednesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Colgate-Palmolive from $86.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $85.54.

In other news, Director Lorrie M. Norrington sold 1,898 shares of Colgate-Palmolive stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $78.02, for a total value of $148,081.96. Following the completion of the transaction, the director now owns 24,602 shares in the company, valued at approximately $1,919,448.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,605,141.90. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Shares of NYSE:CL opened at $77.30 on Wednesday. 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. The company has a market capitalization of $65.20 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 3.98 and a beta of 0.60. Colgate-Palmolive has a 12-month low of $74.14 and a 12-month high of $86.41.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Colgate-Palmolive had a return on equity of 293.48% and a net margin of 15.98%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the company earned $0.74 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive will post 3.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 21st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.82%.

About Colgate-Palmolive

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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