Colgate-Palmolive (CL) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 1.4% in the first quarter, Holdings Channel reports. The institutional investor owned 15,861 shares of the company’s stock after selling 225 shares during the period. Parsons Capital Management Inc. RI’s holdings in Colgate-Palmolive were worth $1,087,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CL. Capital Financial Planning LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth $27,000. Timber Creek Capital Management LLC boosted its position in Colgate-Palmolive by 247.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after purchasing an additional 336 shares during the period. Parisi Gray Wealth Management boosted its position in Colgate-Palmolive by 365.3% during the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after purchasing an additional 369 shares during the period. Portfolio Solutions LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth $30,000. Finally, WP Advisors LLC purchased a new stake in Colgate-Palmolive during the 1st quarter worth $34,000. Institutional investors and hedge funds own 76.22% of the company’s stock.

NYSE:CL opened at $71.30 on Monday. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.14 and a quick ratio of 0.76. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 4.68 and a beta of 0.79. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $71.50.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $0.43 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, April 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.41%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.

In other news, Director John T. Cahill sold 5,780 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $64.46, for a total transaction of $372,578.80. Following the transaction, the director now owns 27,820 shares of the company’s stock, valued at $1,793,277.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ian M. Cook sold 22,634 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.31, for a total transaction of $1,500,860.54. Following the transaction, the chief executive officer now directly owns 1,162,793 shares in the company, valued at approximately $77,104,803.83. The disclosure for this sale can be found here. Insiders have sold 103,200 shares of company stock worth $6,900,449 in the last ninety days. Corporate insiders own 1.14% of the company’s stock.

CL has been the subject of a number of research reports. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Goldman Sachs Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 8th. Evercore ISI initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, January 10th. They set an “outperform” rating and a $70.00 price target for the company. Wells Fargo & Co reaffirmed a “hold” rating and set a $57.00 price target on shares of Colgate-Palmolive in a research report on Friday, January 25th. Finally, Morgan Stanley set a $62.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.80.

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Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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