Tyche Wealth Partners LLC Cuts Stake in Colgate-Palmolive (NYSE:CL)

Tyche Wealth Partners LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,064 shares of the company’s stock after selling 352 shares during the period. Tyche Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at about $25,000. Continuum Advisory LLC lifted its stake in Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Gradient Investments LLC boosted its holdings in shares of Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $68,000. Finally, Triad Wealth Partners LLC purchased a new position in Colgate-Palmolive during the second quarter valued at approximately $71,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.3 %

Shares of NYSE:CL traded down $0.30 during mid-day trading on Tuesday, reaching $95.44. 1,350,972 shares of the company were exchanged, compared to its average volume of 4,336,732. Colgate-Palmolive has a 1 year low of $72.36 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm’s 50-day simple moving average is $103.03 and its 200 day simple moving average is $98.13. The firm has a market cap of $78.30 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 3.54 and a beta of 0.40.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 in the last three months. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $101.00 in a research report on Monday. Barclays raised their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

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.