First Horizon Advisors Inc. Sells 2,035 Shares of Colgate-Palmolive Company $CL

First Horizon Advisors Inc. trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,866 shares of the company’s stock after selling 2,035 shares during the quarter. First Horizon Advisors Inc.’s holdings in Colgate-Palmolive were worth $1,351,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Colgate-Palmolive by 398.6% during the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Colgate-Palmolive by 24.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 675,584 shares of the company’s stock valued at $63,302,000 after acquiring an additional 133,327 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $205,000. Finally, Personal CFO Solutions LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter worth $285,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CL. UBS Group dropped their price objective on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Barclays lowered their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Price Performance

NYSE:CL opened at $77.25 on Friday. The stock has a market capitalization of $62.44 billion, a PE ratio of 21.70, a P/E/G ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The firm has a fifty day simple moving average of $79.84 and a 200 day simple moving average of $85.88. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

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.