Cullen Frost Bankers Inc. Sells 368 Shares of Colgate-Palmolive Company $CL

Cullen Frost Bankers Inc. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,898 shares of the company’s stock after selling 368 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Colgate-Palmolive were worth $2,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the period. GAMMA Investing LLC raised its stake in shares of Colgate-Palmolive by 14.2% in the first quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock worth $1,105,000 after buying an additional 1,468 shares during the period. Continuum Advisory LLC raised its stake in shares of Colgate-Palmolive by 31.1% in the first quarter. Continuum Advisory LLC now owns 1,171 shares of the company’s stock worth $110,000 after buying an additional 278 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Colgate-Palmolive by 69.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 23,854 shares of the company’s stock worth $2,235,000 after buying an additional 9,815 shares during the period. Finally, Legacy Advisors LLC raised its stake in shares of Colgate-Palmolive by 24.3% in the first quarter. Legacy Advisors LLC now owns 3,371 shares of the company’s stock worth $316,000 after buying an additional 659 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays decreased their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Bank of America decreased their price objective 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. Raymond James Financial decreased their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Eight 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. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Stock Down 1.7%

Shares of CL opened at $78.47 on Friday. The business’s 50 day moving average is $81.47 and its 200 day moving average is $87.01. The company has a market capitalization of $63.42 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 4.69 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $100.18. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 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.