Bank of New York Mellon Corp Sells 1,020,070 Shares of Colgate-Palmolive Company $CL

Bank of New York Mellon Corp decreased its position in Colgate-Palmolive Company (NYSE:CL) by 18.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,594,307 shares of the company’s stock after selling 1,020,070 shares during the period. Bank of New York Mellon Corp’s holdings in Colgate-Palmolive were worth $363,042,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CL. Brighton Jones LLC increased its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Woodline Partners LP increased its position in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after purchasing an additional 245 shares during the last quarter. Nebula Research & Development LLC increased its position in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after purchasing an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after purchasing an additional 116,968 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays boosted their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 0.2%

CL stock opened at $85.08 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $68.08 billion, a PE ratio of 33.10, a PEG ratio of 4.41 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The business’s 50 day simple moving average is $86.42 and its 200 day simple moving average is $85.91.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. As a group, research analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.