Bfsg LLC Sells 1,558 Shares of Colgate-Palmolive (NYSE:CL)

Bfsg LLC cut its position in Colgate-Palmolive (NYSE:CL) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,543 shares of the company’s stock after selling 1,558 shares during the quarter. Colgate-Palmolive comprises approximately 1.0% of Bfsg LLC’s holdings, making the stock its 25th biggest position. Bfsg LLC’s holdings in Colgate-Palmolive were worth $6,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Flagship Harbor Advisors LLC lifted its stake in Colgate-Palmolive by 1.9% during the third quarter. Flagship Harbor Advisors LLC now owns 11,325 shares of the company’s stock worth $805,000 after purchasing an additional 208 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Colgate-Palmolive by 0.4% during the third quarter. DAVENPORT & Co LLC now owns 43,553 shares of the company’s stock worth $3,097,000 after acquiring an additional 163 shares in the last quarter. Mach 1 Financial Group LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth about $1,699,000. Meridian Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 79.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 16,368 shares of the company’s stock valued at $1,164,000 after purchasing an additional 7,258 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in shares of Colgate-Palmolive by 95.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 28,722 shares of the company’s stock valued at $2,042,000 after purchasing an additional 14,051 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction dated 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 transaction, the chief executive officer now owns 274,179 shares in the company, valued at $22,797,983.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 sale, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory Malcolm sold 8,930 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total value of $762,175.50. Following the transaction, the executive vice president now owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The disclosure for this sale can be found here. Insiders have sold a total of 232,371 shares of company stock worth $19,505,099 in the last 90 days. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded up $0.17 during midday trading on Thursday, hitting $89.04. 2,040,997 shares of the company’s stock were exchanged, compared to its average volume of 4,514,745. The stock has a 50-day moving average price of $87.40 and a two-hundred day moving average price of $81.25. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $90.37. The company has a market cap of $73.19 billion, a P/E ratio of 31.97, a PEG ratio of 3.33 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive will post 3.5 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 71.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI upped their price target 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. The Goldman Sachs Group began coverage on Colgate-Palmolive in a research note on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective on the stock. Barclays lifted their price target on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. UBS Group upped their target price on Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company lifted their price target on Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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.