Welch & Forbes LLC Sells 2,105 Shares of Colgate-Palmolive (NYSE:CL)

Welch & Forbes LLC reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,433 shares of the company’s stock after selling 2,105 shares during the quarter. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $5,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 95.6% in the fourth quarter. Apollon Wealth Management LLC now owns 29,479 shares of the company’s stock valued at $2,350,000 after buying an additional 14,407 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Colgate-Palmolive by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 63,886 shares of the company’s stock worth $5,092,000 after buying an additional 1,195 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in Colgate-Palmolive by 3.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock valued at $271,000 after buying an additional 127 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $143,000. Finally, Summit Trail Advisors LLC raised its holdings in Colgate-Palmolive by 11.5% during the 4th quarter. Summit Trail Advisors LLC now owns 4,748 shares of the company’s stock worth $378,000 after purchasing an additional 488 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.0 %

Colgate-Palmolive stock traded up $0.90 during mid-day trading on Tuesday, reaching $94.08. The company’s stock had a trading volume of 3,987,097 shares, compared to its average volume of 4,665,950. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $94.21. The business’s 50 day simple moving average is $88.64 and its 200 day simple moving average is $82.63. The company has a market capitalization of $77.19 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 3.43 and a beta of 0.40.

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

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is presently 63.29%.

Insiders Place Their Bets

In other news, CEO Noel R. Wallace sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Colgate-Palmolive news, insider Jennifer Daniels sold 5,790 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $83.96, for a total value of $486,128.40. Following the transaction, the insider now directly owns 63,236 shares of the company’s stock, valued at approximately $5,309,294.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the transaction, 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. Over the last three months, insiders have sold 159,048 shares of company stock valued at $13,336,846. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Evercore ISI increased their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a report on Monday, January 29th. StockNews.com downgraded Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Citigroup lifted their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.44.

About Colgate-Palmolive

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.