Westpac Banking Corp Has $10.68 Million Holdings in Colgate-Palmolive (NYSE:CL)

Westpac Banking Corp trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,985 shares of the company’s stock after selling 1,602 shares during the quarter. Colgate-Palmolive makes up about 0.9% of Westpac Banking Corp’s portfolio, making the stock its 18th largest holding. Westpac Banking Corp’s holdings in Colgate-Palmolive were worth $10,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vest Financial LLC raised its holdings in Colgate-Palmolive by 25.1% in the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock valued at $29,498,000 after buying an additional 74,337 shares during the last quarter. Central Bank & Trust Co. lifted its holdings in shares of Colgate-Palmolive by 22.1% during the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock worth $110,000 after purchasing an additional 250 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Colgate-Palmolive by 9.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after purchasing an additional 910 shares during the last quarter. Sarasin & Partners LLP increased its holdings in Colgate-Palmolive by 1.2% in the fourth quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock valued at $323,115,000 after purchasing an additional 49,980 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock worth $571,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.0 %

Shares of NYSE CL traded down $0.01 during trading hours on Wednesday, hitting $94.56. The company’s stock had a trading volume of 1,031,339 shares, compared to its average volume of 4,613,860. The stock has a market cap of $77.58 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 3.48 and a beta of 0.40. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $95.59. The business has a 50-day simple moving average of $89.41 and a 200-day simple moving average of $83.40. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. Colgate-Palmolive’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.12%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,771 shares of company stock worth $10,656,188. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CL. Royal Bank of Canada upped their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Argus increased their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Finally, UBS Group increased their price target on Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.35.

About Colgate-Palmolive

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.