First Citizens Bank & Trust Co. Sells 817 Shares of Colgate-Palmolive Company $CL

First Citizens Bank & Trust Co. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,356 shares of the company’s stock after selling 817 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $941,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Westend Capital Management LLC increased its stake in Colgate-Palmolive by 111.1% in 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 grew its holdings in shares of Colgate-Palmolive by 1,913.3% in 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 last quarter. Saudi Central Bank purchased a new position in Colgate-Palmolive in the 1st quarter worth about $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive during the 1st quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Colgate-Palmolive in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.6%

CL opened at $78.01 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.60 and a beta of 0.34. Colgate-Palmolive Company has a 12 month low of $76.68 and a 12 month high of $100.18. The stock has a fifty day moving average price of $81.33 and a 200-day moving average price of $86.94.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is presently 58.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CL. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.