BRYN MAWR TRUST Co Reduces Holdings in Colgate-Palmolive (NYSE:CL)

BRYN MAWR TRUST Co decreased its holdings in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 9.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,878 shares of the company’s stock after selling 3,000 shares during the period. BRYN MAWR TRUST Co’s holdings in Colgate-Palmolive were worth $2,549,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Avantax Planning Partners Inc. lifted its stake in shares of Colgate-Palmolive by 1.3% in the 4th quarter. Avantax Planning Partners Inc. now owns 9,719 shares of the company’s stock valued at $829,000 after purchasing an additional 129 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 3.4% in the 4th quarter. Meridian Wealth Management LLC now owns 3,946 shares of the company’s stock valued at $337,000 after purchasing an additional 131 shares during the last quarter. Somerset Trust Co lifted its stake in shares of Colgate-Palmolive by 0.5% in the 4th quarter. Somerset Trust Co now owns 25,737 shares of the company’s stock valued at $2,196,000 after purchasing an additional 132 shares during the last quarter. Grimes & Company Inc. lifted its stake in shares of Colgate-Palmolive by 1.0% in the 4th quarter. Grimes & Company Inc. now owns 13,098 shares of the company’s stock valued at $1,118,000 after purchasing an additional 135 shares during the last quarter. Finally, Coastal Bridge Advisors LLC lifted its stake in shares of Colgate-Palmolive by 1.8% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 7,974 shares of the company’s stock valued at $603,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company’s stock.

Several equities analysts have recently commented on CL shares. Sanford C. Bernstein raised Colgate-Palmolive from an “underperform” rating to a “market perform” rating and upped their price target for the company from $77.00 to $83.00 in a research note on Wednesday, February 2nd. Atlantic Securities lowered Colgate-Palmolive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research note on Tuesday, May 3rd. Stifel Nicolaus decreased their target price on Colgate-Palmolive from $90.00 to $88.00 in a research note on Wednesday, April 13th. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b” rating in a research note on Friday, April 29th. Finally, Citigroup increased their target price on Colgate-Palmolive from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.56.

CL stock traded up $0.85 during mid-day trading on Friday, reaching $78.40. The company had a trading volume of 5,068,563 shares, compared to its average volume of 6,104,116. The company has a debt-to-equity ratio of 10.42, a quick ratio of 0.67 and a current ratio of 1.09. The company has a market capitalization of $65.69 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 5.13 and a beta of 0.56. The firm has a fifty day simple moving average of $77.28 and a 200 day simple moving average of $79.12. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the company earned $0.80 EPS. Colgate-Palmolive’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts predict that Colgate-Palmolive will post 3.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Thursday, April 21st were issued a $0.47 dividend. The ex-dividend date was Wednesday, April 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.45. Colgate-Palmolive’s dividend payout ratio is presently 77.69%.

Colgate-Palmolive declared that its board has initiated a share repurchase program on Thursday, March 10th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, Director John P. Bilbrey sold 4,917 shares of the stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $78.66, for a total value of $386,771.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Colgate-Palmolive Company Profile (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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