Heritage Wealth Advisors Sells 566 Shares of Colgate-Palmolive (NYSE:CL)

Heritage Wealth Advisors reduced its holdings in Colgate-Palmolive (NYSE:CL) by 44.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 700 shares of the company’s stock after selling 566 shares during the quarter. Heritage Wealth Advisors’ holdings in Colgate-Palmolive were worth $63,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CL. Union Savings Bank increased its position in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. PSI Advisors LLC grew its stake in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after acquiring an additional 348 shares during the period. Avion Wealth increased its holdings in shares of Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Core Wealth Advisors Inc. raised its position in shares of Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $1.99 during mid-day trading on Wednesday, reaching $99.39. The company had a trading volume of 4,116,612 shares, compared to its average volume of 4,393,718. The company’s 50-day moving average price is $95.27 and its 200-day moving average price is $89.21. Colgate-Palmolive has a one year low of $67.62 and a one year high of $99.63. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.58 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. Bank of America boosted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus upped their target price on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Evercore ISI lifted their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Barclays increased their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Argus lifted their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $96.06.

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.