Argent Trust Co Sells 1,170 Shares of Colgate-Palmolive (NYSE:CL)

Argent Trust Co lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,259 shares of the company’s stock after selling 1,170 shares during the period. Argent Trust Co’s holdings in Colgate-Palmolive were worth $13,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock worth $6,368,378,000 after purchasing an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $3,698,096,000 after buying an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd grew its position in Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after buying an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,490 shares of company stock worth $4,486,063. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $104.59 on Wednesday. The business has a 50 day moving average of $102.41 and a 200-day moving average of $95.55. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30. The company has a market capitalization of $85.81 billion, a P/E ratio of 33.10, a P/E/G ratio of 3.72 and a beta of 0.40.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 63.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CL shares. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI upped their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Barclays upped their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.79.

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.