Cullinan Associates Inc. Has $5.80 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Cullinan Associates Inc. lessened its holdings in Colgate-Palmolive (NYSE:CL) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 64,409 shares of the company’s stock after selling 1,800 shares during the quarter. Cullinan Associates Inc.’s holdings in Colgate-Palmolive were worth $5,800,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CL. Ancora Advisors LLC increased its holdings in shares of Colgate-Palmolive by 3.7% during the third quarter. Ancora Advisors LLC now owns 14,998 shares of the company’s stock worth $1,067,000 after buying an additional 541 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Colgate-Palmolive by 48.1% during the third quarter. Gotham Asset Management LLC now owns 70,316 shares of the company’s stock worth $5,000,000 after buying an additional 22,832 shares in the last quarter. Waverly Advisors LLC increased its holdings in shares of Colgate-Palmolive by 9.3% during the third quarter. Waverly Advisors LLC now owns 3,761 shares of the company’s stock worth $267,000 after buying an additional 319 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Colgate-Palmolive by 5.3% in the third quarter. Jones Financial Companies Lllp now owns 4,651 shares of the company’s stock valued at $331,000 after purchasing an additional 233 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Colgate-Palmolive by 13.2% in the third quarter. Truist Financial Corp now owns 322,496 shares of the company’s stock valued at $22,933,000 after purchasing an additional 37,564 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 29th. Bank of America raised their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada raised their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their price objective 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. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Stock Up 0.4 %

Shares of NYSE:CL traded up $0.37 during midday trading on Tuesday, reaching $95.91. 753,503 shares of the company were exchanged, compared to its average volume of 4,474,241. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $99.08. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The stock has a fifty day simple moving average of $93.87 and a two-hundred day simple moving average of $87.63. The firm has a market cap of $78.69 billion, a PE ratio of 30.23, a P/E/G ratio of 3.57 and a beta of 0.39.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared 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 is Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 2.09%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction 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 sale, 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 Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sally Massey sold 12,226 shares of the business’s 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 transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the business’s 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 transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Company 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.