PGGM Investments Cuts Position in Colgate-Palmolive (NYSE:CL)

PGGM Investments lessened its stake in Colgate-Palmolive (NYSE:CL) by 56.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,984 shares of the company’s stock after selling 74,625 shares during the quarter. PGGM Investments’ holdings in Colgate-Palmolive were worth $5,221,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Union Savings Bank raised its holdings in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Avion Wealth increased its position in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $32,000. PSI Advisors LLC lifted its holdings in Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Finally, Core Wealth Advisors Inc. grew its holdings in shares of Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.9 %

CL stock traded up $1.88 during midday trading on Friday, reaching $102.81. 5,088,982 shares of the company’s stock traded hands, compared to its average volume of 4,089,503. The company has a market capitalization of $84.01 billion, a P/E ratio of 32.53, a PEG ratio of 3.54 and a beta of 0.39. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.28. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $103.35. The business has a 50-day moving average price of $96.49 and a two-hundred day moving average price of $90.76.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Argus lifted their price target on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Royal Bank of Canada lifted their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Bank of America lifted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.11.

Insider Activity

In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company 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.