Altfest L J & Co. Inc. Sells 476 Shares of Colgate-Palmolive Company (NYSE:CL)

Altfest L J & Co. Inc. trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,917 shares of the company’s stock after selling 476 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Colgate-Palmolive were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC raised its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Accredited Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive during the fourth quarter worth approximately $36,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the subject of a number of research reports. UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley set a $96.00 target price on Colgate-Palmolive and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $98.92.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $84.65 on Friday. The business’s fifty day simple moving average is $88.92 and its 200 day simple moving average is $90.15. The firm has a market capitalization of $68.42 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 4.40 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. Colgate-Palmolive’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

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.