US Bancorp DE Lowers Position in Colgate-Palmolive (CL)

US Bancorp DE trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 784,444 shares of the company’s stock after selling 13,835 shares during the quarter. US Bancorp DE owned 0.09% of Colgate-Palmolive worth $52,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Colgate-Palmolive by 203.2% during the 2nd quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after acquiring an additional 23,169 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Colgate-Palmolive by 2.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,233,699 shares of the company’s stock worth $209,577,000 after acquiring an additional 70,318 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Colgate-Palmolive by 823.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after acquiring an additional 9,877 shares during the last quarter. Centaurus Financial Inc. boosted its position in Colgate-Palmolive by 147.5% during the 2nd quarter. Centaurus Financial Inc. now owns 8,262 shares of the company’s stock worth $535,000 after acquiring an additional 4,924 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. acquired a new position in Colgate-Palmolive during the 2nd quarter worth approximately $232,451,000. 75.17% of the stock is owned by institutional investors and hedge funds.

CL stock opened at $60.29 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 64.85. The firm has a market cap of $51.65 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.93 and a beta of 0.75. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $77.91.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. As a group, equities analysts expect that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s payout ratio is 58.54%.

In related news, CFO Henning I. Jakobsen sold 1,015 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares in the company, valued at $2,426,740.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 17,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.44, for a total value of $1,112,480.00. Following the completion of the transaction, the vice president now owns 49,949 shares in the company, valued at approximately $3,268,662.56. The disclosure for this sale can be found here. Insiders have sold a total of 169,585 shares of company stock worth $11,132,140 in the last quarter. Company insiders own 1.02% of the company’s stock.

A number of equities analysts have weighed in on the company. Argus reaffirmed a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Atlantic Securities assumed coverage on Colgate-Palmolive in a report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective for the company. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $68.06.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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

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