ELCO Management Co. LLC decreased its position in Colgate-Palmolive (NYSE:CL) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,310 shares of the company’s stock after selling 1,190 shares during the quarter. Colgate-Palmolive makes up approximately 1.0% of ELCO Management Co. LLC’s portfolio, making the stock its 28th largest holding. ELCO Management Co. LLC’s holdings in Colgate-Palmolive were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in CL. Cowen Prime Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $28,000. Horan Securities Inc. grew its stake in shares of Colgate-Palmolive by 60.1% in the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock worth $28,000 after acquiring an additional 128 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $32,000. First PREMIER Bank acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $33,000. Finally, Lumature Wealth Partners LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $59,000. 76.28% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive stock traded up $0.37 during trading on Monday, reaching $76.60. The company’s stock had a trading volume of 121,009 shares, compared to its average volume of 4,332,617. The stock has a 50-day moving average price of $79.60 and a two-hundred day moving average price of $80.30. The company has a current ratio of 1.11, a quick ratio of 0.70 and a debt-to-equity ratio of 9.22. Colgate-Palmolive has a one year low of $74.14 and a one year high of $86.41. The stock has a market capitalization of $64.61 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 3.98 and a beta of 0.60.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 21st will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, October 20th. This represents a $1.80 annualized dividend and a yield of 2.35%. Colgate-Palmolive’s dividend payout ratio is currently 58.82%.
In other news, Director Lorrie M. Norrington sold 1,898 shares of the stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $78.02, for a total transaction of $148,081.96. Following the sale, the director now directly owns 24,602 shares of the company’s stock, valued at approximately $1,919,448.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sally Massey sold 610 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $77.18, for a total value of $47,079.80. Following the completion of the sale, the insider now directly owns 7,510 shares in the company, valued at $579,621.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,798 shares of company stock valued at $1,800,304 over the last three months. Company insiders own 0.32% of the company’s stock.
A number of research firms have weighed in on CL. Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $84.00 to $86.00 in a research note on Monday. UBS Group began coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They set a “buy” rating and a $95.00 price target on the stock. Evercore ISI reiterated a “buy” rating and set a $95.00 price target on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Finally, Credit Suisse Group upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $95.00 in a research note on Wednesday, June 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $85.69.
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.
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