Colgate-Palmolive (NYSE:CL) Shares Sold by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 70.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,854 shares of the company’s stock after selling 6,815 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Colgate-Palmolive were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. boosted its position in Colgate-Palmolive by 3.8% in the 2nd quarter. Brown Advisory Inc. now owns 171,321 shares of the company’s stock valued at $14,106,000 after buying an additional 6,275 shares during the period. Walleye Capital LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at about $1,588,000. First National Trust Co boosted its stake in shares of Colgate-Palmolive by 4.8% in the 3rd quarter. First National Trust Co now owns 5,411 shares of the company’s stock valued at $381,000 after buying an additional 249 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Colgate-Palmolive by 15.1% during the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,628 shares of the company’s stock worth $2,294,000 after buying an additional 3,750 shares in the last quarter. Finally, Cribstone Capital Management LLC grew its position in shares of Colgate-Palmolive by 6.0% during the second quarter. Cribstone Capital Management LLC now owns 8,693 shares of the company’s stock worth $697,000 after buying an additional 492 shares in the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.1 %

Shares of Colgate-Palmolive stock opened at $75.50 on Tuesday. The company’s fifty day moving average is $77.72 and its two-hundred day moving average is $76.73. Colgate-Palmolive has a 1 year low of $67.84 and a 1 year high of $84.75. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.71 and a current ratio of 1.17. The company has a market capitalization of $63.06 billion, a P/E ratio of 32.83, a PEG ratio of 6.61 and a beta of 0.51.

Colgate-Palmolive (NYSE:CL – Get Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Colgate-Palmolive had a return on equity of 304.29% and a net margin of 10.87%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Analysts forecast that Colgate-Palmolive will post 2.97 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 23rd will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, January 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.49%. Colgate-Palmolive’s dividend payout ratio (DPR) is 81.74%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CL. UBS Group decreased their price target on shares of Colgate-Palmolive from $90.00 to $80.00 in a research note on Thursday, October 13th. The Goldman Sachs Group lowered their target price on shares of Colgate-Palmolive from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on Colgate-Palmolive from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 6th. Barclays upped their price objective on Colgate-Palmolive from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 1st. Finally, Credit Suisse Group lowered their price target on Colgate-Palmolive from $88.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $83.58.

About Colgate-Palmolive

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.