Axxcess Wealth Management LLC Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Axxcess Wealth Management LLC cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,764 shares of the company’s stock after selling 3,106 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Colgate-Palmolive were worth $4,732,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CL. Edgestream Partners L.P. increased its position in shares of Colgate-Palmolive by 13.9% in the 2nd quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock worth $1,928,000 after purchasing an additional 2,423 shares during the last quarter. Moors & Cabot Inc. grew its stake in Colgate-Palmolive by 4.8% in the second quarter. Moors & Cabot Inc. now owns 46,522 shares of the company’s stock worth $4,514,000 after purchasing an additional 2,137 shares in the last quarter. Wulff Hansen & CO. grew its stake in Colgate-Palmolive by 9,604.0% in the second quarter. Wulff Hansen & CO. now owns 321,202 shares of the company’s stock worth $31,169,000 after purchasing an additional 317,892 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in Colgate-Palmolive by 23.0% in the second quarter. Citizens Financial Group Inc. RI now owns 17,314 shares of the company’s stock valued at $1,680,000 after buying an additional 3,232 shares during the last quarter. Finally, One Capital Management LLC bought a new position in Colgate-Palmolive during the 2nd quarter worth approximately $368,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $102.79.

Insider Activity

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

CL stock opened at $104.59 on Wednesday. The company has a market capitalization of $85.81 billion, a P/E ratio of 33.10, a PEG ratio of 3.72 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The company has a 50-day simple moving average of $102.41 and a 200 day simple moving average of $95.55. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. During the same period in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

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.