Hennion & Walsh Asset Management Inc. Trims Stake in Colgate-Palmolive (NYSE:CL)

Hennion & Walsh Asset Management Inc. trimmed its stake in Colgate-Palmolive (NYSE:CL) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,124 shares of the company’s stock after selling 328 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Union Savings Bank boosted its holdings in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after buying an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive in the 2nd quarter worth $25,000. Atlantic Edge Private Wealth Management LLC bought a new position in Colgate-Palmolive in the 4th quarter worth $32,000. PSI Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 4,971.4% during the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Finally, Core Wealth Advisors Inc. boosted its holdings in shares of Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after purchasing an additional 146 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Barclays increased their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.11.

Colgate-Palmolive Trading Down 0.2 %

Shares of NYSE:CL traded down $0.17 during trading on Monday, reaching $101.82. 1,206,273 shares of the company were exchanged, compared to its average volume of 4,386,905. The firm has a market capitalization of $83.54 billion, a PE ratio of 32.28, a P/E/G ratio of 3.54 and a beta of 0.39. The business’s fifty day simple moving average is $98.29 and its 200-day simple moving average is $92.30. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $104.15. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.28.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period last year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive 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 transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive 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 transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,177 shares of company stock worth $4,245,835. Corporate 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.