Fiduciary Wealth Partners LLC Sells 1,678 Shares of Colgate-Palmolive Company $CL

Fiduciary Wealth Partners LLC lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 73.4% in the second quarter, Holdings Channel reports. The fund owned 608 shares of the company’s stock after selling 1,678 shares during the quarter. Fiduciary Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 18.3% in 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 acquiring an additional 5,269,140 shares during the last quarter. Nuveen LLC bought a new position in shares of Colgate-Palmolive in the first quarter worth about $217,593,000. Goldman Sachs Group Inc. lifted its holdings in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after acquiring an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 45.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after acquiring an additional 1,727,105 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Colgate-Palmolive in the second quarter worth about $83,837,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James Financial lowered their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Barclays dropped their price objective on shares of 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 objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $78.01 on Friday. The company has a market capitalization of $63.05 billion, a PE ratio of 21.91, a P/E/G ratio of 4.58 and a beta of 0.34. The company has a 50 day simple moving average of $81.33 and a two-hundred day simple moving average of $86.93. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.18.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

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.