Wendell David Associates Inc. Sells 1,240 Shares of Colgate-Palmolive Company $CL

Wendell David Associates Inc. lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,774 shares of the company’s stock after selling 1,240 shares during the quarter. Wendell David Associates Inc.’s holdings in Colgate-Palmolive were worth $7,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Westend Capital Management LLC boosted its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its position in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank bought a new position in Colgate-Palmolive during the first quarter worth about $29,000. Ransom Advisory Ltd bought a new position in Colgate-Palmolive during the first quarter worth about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Colgate-Palmolive during the first quarter worth about $37,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Barclays cut their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. The Goldman Sachs Group cut their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Bank of America cut their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Trading Up 1.4%

Shares of CL opened at $79.14 on Friday. The firm’s 50 day simple moving average is $81.96 and its 200 day simple moving average is $87.34. The company has a market capitalization of $63.96 billion, a P/E ratio of 22.23, a P/E/G ratio of 4.64 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.54.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.43%.

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.