Cullinan Associates Inc. Cuts Position in Colgate-Palmolive (NYSE:CL)

Cullinan Associates Inc. trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 1.2% in the first quarter, HoldingsChannel.com reports. The firm owned 91,609 shares of the company’s stock after selling 1,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Colgate-Palmolive were worth $7,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Falcon Wealth Planning acquired a new position in Colgate-Palmolive in the first quarter valued at approximately $579,000. Marshall Financial Group LLC boosted its holdings in Colgate-Palmolive by 4.7% in the first quarter. Marshall Financial Group LLC now owns 13,949 shares of the company’s stock valued at $1,100,000 after purchasing an additional 624 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Colgate-Palmolive by 299.9% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 79,016 shares of the company’s stock valued at $6,229,000 after purchasing an additional 59,255 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Colgate-Palmolive by 7.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 71,082 shares of the company’s stock valued at $5,603,000 after purchasing an additional 5,188 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Colgate-Palmolive by 16.9% in the first quarter. Exchange Traded Concepts LLC now owns 126,671 shares of the company’s stock valued at $9,985,000 after acquiring an additional 18,292 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on CL. Royal Bank of Canada downgraded Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 price objective for the company. in a report on Monday, January 4th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a report on Thursday, January 28th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday. Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Tuesday, January 19th. They issued an “underperform” rating and a $77.00 price objective for the company. Finally, Credit Suisse Group raised Colgate-Palmolive from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $80.00 in a report on Monday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.17.

In other news, VP Philip G. Shotts sold 346 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $77.16, for a total value of $26,697.36. Following the completion of the transaction, the vice president now owns 41,128 shares in the company, valued at $3,173,436.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Daniels sold 20,692 shares of the firm’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $78.65, for a total value of $1,627,425.80. Following the completion of the transaction, the insider now owns 55,585 shares of the company’s stock, valued at approximately $4,371,760.25. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $2,418,650 in the last quarter. 0.78% of the stock is currently owned by company insiders.

NYSE:CL traded up $0.05 during trading hours on Thursday, hitting $81.20. The company’s stock had a trading volume of 75,901 shares, compared to its average volume of 4,941,420. The business’s 50-day moving average is $77.81 and its two-hundred day moving average is $80.65. The company has a market capitalization of $68.82 billion, a PE ratio of 25.96, a PEG ratio of 3.83 and a beta of 0.59. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.62 and a current ratio of 0.97. Colgate-Palmolive has a 52-week low of $65.54 and a 52-week high of $86.41.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Thursday, January 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Colgate-Palmolive had a return on equity of 383.88% and a net margin of 16.65%. Colgate-Palmolive’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Wednesday, April 21st will be given a $0.45 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, April 20th. This represents a $1.80 annualized dividend and a yield of 2.22%. Colgate-Palmolive’s dividend payout ratio is presently 62.19%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include 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 similar items.

See Also: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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