Simmons Bank Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Simmons Bank decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,643 shares of the company’s stock after selling 2,121 shares during the period. Simmons Bank’s holdings in Colgate-Palmolive were worth $1,327,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth $25,000. Avion Wealth raised its stake in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $34,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Colgate-Palmolive by 142.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the last quarter. Finally, West Branch Capital LLC raised its position in Colgate-Palmolive by 24.0% during the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CL. The Goldman Sachs Group assumed coverage on Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Royal Bank of Canada increased their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Finally, Evercore ISI upped their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $91.44.

Colgate-Palmolive Stock Up 1.0 %

Shares of NYSE CL traded up $0.90 during midday trading on Tuesday, reaching $94.08. 3,987,097 shares of the company’s stock were exchanged, compared to its average volume of 4,665,950. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $94.21. The business’s fifty day moving average price is $88.64 and its two-hundred day moving average price is $82.63. The stock has a market capitalization of $77.19 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 3.43 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. Colgate-Palmolive’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Analysts forecast that Colgate-Palmolive will post 3.52 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the transaction, the chief executive officer now owns 274,179 shares in the company, valued at approximately $22,797,983.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Daniels sold 5,790 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $83.96, for a total value of $486,128.40. Following the sale, the insider now owns 63,236 shares of the company’s stock, valued at approximately $5,309,294.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,048 shares of company stock valued at $13,336,846. Insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

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.