Colgate-Palmolive Company $CL Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,188 shares of the company’s stock after selling 11,380 shares during the quarter. Bar Harbor Wealth Management’s holdings in Colgate-Palmolive were worth $8,569,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Grimes & Company Inc. boosted its stake in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after purchasing an additional 118 shares during the period. RFG Advisory LLC lifted its holdings in Colgate-Palmolive by 1.4% in the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after acquiring an additional 123 shares during the period. Tiemann Investment Advisors LLC boosted its holdings in Colgate-Palmolive by 2.1% during the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock worth $553,000 after buying an additional 125 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Jefferies Financial Group set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, December 16th. Morgan Stanley dropped their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Evercore ISI cut their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $88.81.

Colgate-Palmolive Stock Performance

CL stock opened at $80.50 on Thursday. The firm has a 50 day simple moving average of $78.44 and a 200 day simple moving average of $82.85. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The stock has a market cap of $64.89 billion, a P/E ratio of 22.55, a P/E/G ratio of 5.69 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. Research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.