Tufton Capital Management Sells 1,250 Shares of Colgate-Palmolive Company $CL

Tufton Capital Management trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 4.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 24,947 shares of the company’s stock after selling 1,250 shares during the quarter. Tufton Capital Management’s holdings in Colgate-Palmolive were worth $2,267,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Colgate-Palmolive during the 1st quarter worth $69,000. World Investment Advisors increased its position in Colgate-Palmolive by 24.1% during the 1st quarter. World Investment Advisors now owns 11,769 shares of the company’s stock valued at $1,103,000 after buying an additional 2,282 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Colgate-Palmolive by 98.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 22,408 shares of the company’s stock valued at $2,100,000 after buying an additional 11,131 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in Colgate-Palmolive by 398.6% during the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after buying an additional 8,515 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on CL shares. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Finally, Citigroup dropped their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Colgate-Palmolive Stock Down 2.7%

Shares of CL opened at $74.94 on Tuesday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $60.56 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.44 and a beta of 0.34. The stock’s 50-day moving average price is $80.26 and its 200-day moving average price is $86.14.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.8%. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Colgate-Palmolive Profile

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.