Slocum Gordon & Co LLP Decreases Stake in Colgate-Palmolive (NYSE:CL)

Slocum Gordon & Co LLP lowered its stake in Colgate-Palmolive (NYSE:CL) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,616 shares of the company’s stock after selling 200 shares during the period. Colgate-Palmolive accounts for 2.0% of Slocum Gordon & Co LLP’s holdings, making the stock its 18th biggest position. Slocum Gordon & Co LLP’s holdings in Colgate-Palmolive were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD increased its stake in shares of Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Swedbank AB acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $286,370,000. Magellan Asset Management Ltd increased its stake in shares of Colgate-Palmolive by 4,162.6% in the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after acquiring an additional 1,968,988 shares during the period. Finally, Confluence Investment Management LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $130,622,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research reports. BNP Paribas started coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price objective on the stock. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.53.

Colgate-Palmolive Stock Performance

Shares of CL opened at $108.79 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The company has a 50-day simple moving average of $100.86 and a 200-day simple moving average of $94.28. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $109.30. The company has a market capitalization of $89.26 billion, a PE ratio of 34.34, a P/E/G ratio of 3.73 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. During the same period last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling

In related news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,490 shares of company stock valued at $4,486,063. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive 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.