Colgate-Palmolive (CL) Shares Sold by Port Capital LLC

Port Capital LLC cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,045 shares of the company’s stock after selling 6,300 shares during the period. Port Capital LLC’s holdings in Colgate-Palmolive were worth $6,229,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CL. First Trust Advisors LP increased its position in Colgate-Palmolive by 13.3% in the second quarter. First Trust Advisors LP now owns 354,909 shares of the company’s stock worth $23,002,000 after buying an additional 41,567 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Colgate-Palmolive by 9.8% during the second quarter. Victory Capital Management Inc. now owns 90,142 shares of the company’s stock worth $5,842,000 after purchasing an additional 8,046 shares in the last quarter. KBC Group NV grew its position in shares of Colgate-Palmolive by 20.6% during the second quarter. KBC Group NV now owns 171,505 shares of the company’s stock worth $11,115,000 after purchasing an additional 29,332 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $5,918,000. Finally, Autus Asset Management LLC grew its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Autus Asset Management LLC now owns 92,827 shares of the company’s stock worth $6,016,000 after purchasing an additional 2,207 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

In related news, VP Philip G. Shotts sold 462 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $30,977.10. Following the completion of the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now directly owns 36,193 shares of the company’s stock, valued at $2,426,740.65. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on CL. Wells Fargo & Co cut their target price on Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a research report on Wednesday, October 17th. Argus cut their target price on Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Morgan Stanley cut their target price on Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. JPMorgan Chase & Co. cut Colgate-Palmolive from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $61.00 to $54.00 in a research report on Monday, October 29th. Finally, UBS Group set a $71.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $68.20.

NYSE:CL opened at $63.82 on Friday. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.11 and a quick ratio of 0.77. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $77.91. The stock has a market cap of $54.71 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 3.10 and a beta of 0.76.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that Colgate-Palmolive will post 2.96 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, October 18th. Colgate-Palmolive’s payout ratio is presently 58.54%.

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About Colgate-Palmolive

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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