GWN Securities Inc. Sells 1,339 Shares of Colgate-Palmolive Company $CL

GWN Securities Inc. cut its position in Colgate-Palmolive Company (NYSE:CL) by 30.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,063 shares of the company’s stock after selling 1,339 shares during the quarter. GWN Securities Inc.’s holdings in Colgate-Palmolive were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Nuveen LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $217,593,000. Goldman Sachs Group Inc. lifted its position in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after buying an additional 1,727,105 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Colgate-Palmolive in the second quarter valued at about $83,837,000. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CL. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Barclays lowered their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Finally, Bank of America dropped their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Stock Down 2.0%

Shares of NYSE CL opened at $75.61 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company’s fifty day simple moving average is $80.82 and its 200 day simple moving average is $86.58. The firm has a market cap of $61.11 billion, a PE ratio of 21.24, a P/E/G ratio of 4.53 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $75.38 and a 12-month high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. Colgate-Palmolive’s payout ratio is presently 58.43%.

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.