Baxter Bros Inc. Cuts Holdings in Colgate-Palmolive (NYSE:CL)

Baxter Bros Inc. reduced its position in Colgate-Palmolive (NYSE:CL) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,760 shares of the company’s stock after selling 895 shares during the period. Baxter Bros Inc.’s holdings in Colgate-Palmolive were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $25,000. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $34,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Colgate-Palmolive by 142.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the period. Finally, West Branch Capital LLC lifted its stake in shares of Colgate-Palmolive by 24.0% in the 4th quarter. West Branch Capital LLC now owns 682 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Noel R. Wallace sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now owns 286,881 shares of the company’s stock, valued at approximately $24,161,117.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,048 shares of company stock worth $13,336,846. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Down 0.0 %

Shares of CL stock traded down $0.03 on Friday, hitting $92.88. The stock had a trading volume of 5,432,695 shares, compared to its average volume of 4,878,342. Colgate-Palmolive has a one year low of $67.62 and a one year high of $93.25. The business has a 50 day moving average price of $88.35 and a 200 day moving average price of $82.21. The company has a market cap of $76.20 billion, a PE ratio of 29.39, a P/E/G ratio of 3.43 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 3.52 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 29th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada upped their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.44.

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.