Webster Bank N. A. Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Webster Bank N. A. trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,594 shares of the company’s stock after selling 364 shares during the period. Webster Bank N. A.’s holdings in Colgate-Palmolive were worth $155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CL. Union Savings Bank grew its position in Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive during the second quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. PSI Advisors LLC grew its position in Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after buying an additional 348 shares during the period. Finally, Core Wealth Advisors Inc. grew its position in Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after buying an additional 146 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.64 during mid-day trading on Friday, reaching $102.07. 3,646,674 shares of the company’s stock traded hands, compared to its average volume of 4,433,793. The company has a market cap of $83.74 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.54 and a beta of 0.39. The stock has a 50 day moving average of $97.49 and a two-hundred day moving average of $91.58. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $104.15.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent research reports. Bank of America boosted their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI upped their price target 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. Sanford C. Bernstein upped their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Finally, Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.11.

Insider Activity

In other news, insider Sally Massey sold 15,850 shares of the stock in a transaction on 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 sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sally Massey sold 15,850 shares of the stock in a transaction on 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 sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company 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.