Colgate-Palmolive (NYSE:CL) Shares Bought by Autus Asset Management LLC

Autus Asset Management LLC grew its position in shares of Colgate-Palmolive (NYSE:CL) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,827 shares of the company’s stock after purchasing an additional 2,207 shares during the quarter. Autus Asset Management LLC’s holdings in Colgate-Palmolive were worth $6,016,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Colgate-Palmolive by 3.0% during the first quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock worth $3,867,373,000 after purchasing an additional 1,592,608 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Colgate-Palmolive by 11.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock valued at $2,110,235,000 after acquiring an additional 3,397,667 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Colgate-Palmolive by 11.3% in the 1st quarter. Wells Fargo & Company MN now owns 9,886,686 shares of the company’s stock worth $708,678,000 after buying an additional 1,003,612 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Colgate-Palmolive by 45.7% in the 1st quarter. First Eagle Investment Management LLC now owns 7,830,595 shares of the company’s stock worth $561,297,000 after buying an additional 2,455,839 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Colgate-Palmolive by 3.3% in the 1st quarter. OppenheimerFunds Inc. now owns 6,380,557 shares of the company’s stock valued at $457,358,000 after purchasing an additional 206,753 shares in the last quarter. 74.74% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Mukul Deoras sold 11,334 shares of Colgate-Palmolive stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $65.10, for a total transaction of $737,843.40. Following the completion of the transaction, the insider now owns 32,625 shares in the company, valued at $2,123,887.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Philip G. Shotts sold 17,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 49,949 shares of the company’s stock, valued at approximately $3,268,662.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,302 shares of company stock worth $28,518,498. 1.02% of the stock is owned by company insiders.

Several research firms have issued reports on CL. Macquarie downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $74.00 to $65.00 in a report on Monday, July 30th. Citigroup reduced their price objective on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, July 31st. Argus upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. They noted that the move was a valuation call. Sanford C. Bernstein reissued a “market perform” rating and issued a $72.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, May 24th. Finally, Wells Fargo & Co lowered Colgate-Palmolive to a “hold” rating in a research report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.14.

NYSE CL traded up $0.17 during trading hours on Friday, reaching $66.41. 3,257,100 shares of the company’s stock were exchanged, compared to its average volume of 4,056,766. The firm has a market cap of $57.95 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 2.99 and a beta of 0.75. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74. Colgate-Palmolive has a one year low of $61.28 and a one year high of $77.91.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.72 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. equities analysts expect that Colgate-Palmolive will post 3.02 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Monday, June 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, July 18th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio is 58.54%.

Colgate-Palmolive Company 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.

See Also: Asset Allocation, Balancing Your Investments

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

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply