HM Payson & Co. Cuts Stake in Colgate-Palmolive Company (CL)

HM Payson & Co. lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,919 shares of the company’s stock after selling 3,481 shares during the period. HM Payson & Co.’s holdings in Colgate-Palmolive were worth $11,707,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new stake in Colgate-Palmolive during the first quarter valued at about $102,000. Proficio Capital Partners LLC boosted its position in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Colgate-Palmolive during the second quarter valued at about $109,000. Harbour Capital Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter valued at about $121,000. Finally, Hanson & Doremus Investment Management boosted its position in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

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In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total value of $273,867.85. Following the completion of the sale, the insider now directly owns 53,173 shares of the company’s stock, valued at approximately $3,799,210.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the sale, the chief operating officer now directly owns 97,177 shares of the company’s stock, valued at $7,046,304.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,136 shares of company stock valued at $15,416,385. Insiders own 1.02% of the company’s stock.

A number of equities research analysts recently weighed in on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Macquarie started coverage on Colgate-Palmolive in a research report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective on the stock. Finally, Wells Fargo & Co reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $76.85.

Colgate-Palmolive Company (NYSE CL) opened at 72.32 on Friday. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The stock has a market capitalization of $63.70 billion, a PE ratio of 26.87 and a beta of 0.81. The stock has a 50 day moving average price of $72.83 and a 200 day moving average price of $73.22.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts forecast that Colgate-Palmolive Company will post $2.90 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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