Swiss National Bank Cuts Stake in Colgate-Palmolive (NYSE:CL)

Swiss National Bank lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,342,500 shares of the company’s stock after selling 113,300 shares during the period. Swiss National Bank owned about 0.29% of Colgate-Palmolive worth $210,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Union Savings Bank lifted its holdings in shares of Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Avion Wealth lifted its holdings in shares of Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $32,000. PSI Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after acquiring an additional 348 shares during the last quarter. Finally, Core Wealth Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.31 during midday trading on Friday, hitting $98.07. 2,564,827 shares of the company’s stock were exchanged, compared to its average volume of 3,782,388. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $99.08. 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 market cap of $80.46 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 3.61 and a beta of 0.39. The firm’s 50 day simple moving average is $95.12 and its 200 day simple moving average is $88.89.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the business earned $0.73 EPS. The business’s revenue was up 6.2% on a year-over-year basis. 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insiders Place Their Bets

In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on 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 directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on 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 $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CL shares. Evercore ISI upped their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Barclays increased their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $95.33.

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.