Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Colgate-Palmolive Company $CL

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 419,880 shares of the company’s stock after selling 15,708 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Colgate-Palmolive worth $33,565,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. S.A. Mason LLC grew its position in shares of Colgate-Palmolive by 3.9% in the third quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock valued at $280,000 after purchasing an additional 130 shares during the period. Security National Bank of Sioux City Iowa IA lifted its position in Colgate-Palmolive by 0.8% during the third quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company’s stock worth $1,298,000 after buying an additional 130 shares during the period. Stratos Wealth Advisors LLC lifted its position in Colgate-Palmolive by 4.5% during the third quarter. Stratos Wealth Advisors LLC now owns 3,015 shares of the company’s stock worth $241,000 after buying an additional 130 shares during the period. Cordatus Wealth Management LLC boosted its stake in Colgate-Palmolive by 0.6% in the 2nd quarter. Cordatus Wealth Management LLC now owns 23,036 shares of the company’s stock worth $2,094,000 after buying an additional 134 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Colgate-Palmolive by 1.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,387 shares of the company’s stock worth $724,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $88.85 on Monday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a market capitalization of $71.62 billion, a P/E ratio of 33.91, a P/E/G ratio of 3.98 and a beta of 0.28. The business’s 50-day simple moving average is $90.11 and its 200-day simple moving average is $83.22.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 in the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a research report on Friday, February 13th. Jefferies Financial Group upped their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $100.00 price target on shares of Colgate-Palmolive in a report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $94.75.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.