Modera Wealth Management LLC Sells 5,389 Shares of Colgate-Palmolive Company $CL

Modera Wealth Management LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,159 shares of the company’s stock after selling 5,389 shares during the quarter. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $7,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in Colgate-Palmolive by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock valued at $37,110,000 after acquiring an additional 122,634 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Colgate-Palmolive by 114.2% in the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after acquiring an additional 12,437 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $1,135,000. Flputnam Investment Management Co. grew its holdings in shares of Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Finally, AIA Group Ltd bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at $2,113,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CL shares. Bank of America lowered their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company lifted their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. UBS Group lifted their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.41.

Colgate-Palmolive Trading Down 1.3%

CL opened at $92.84 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market cap of $74.29 billion, a PE ratio of 36.12, a PEG ratio of 4.90 and a beta of 0.33. The business has a 50 day moving average of $90.46 and a 200-day moving average of $88.54.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.