Fmr LLC Reduces Position in Colgate-Palmolive (CL)

FMR LLC lowered its holdings in Colgate-Palmolive (NYSE:CL) by 18.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,719,256 shares of the company’s stock after selling 1,325,794 shares during the quarter. FMR LLC owned 0.66% of Colgate-Palmolive worth $340,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in Colgate-Palmolive by 16.6% during the third quarter. Janus Henderson Group PLC now owns 461,370 shares of the company’s stock worth $30,888,000 after acquiring an additional 65,628 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock worth $1,363,050,000 after buying an additional 223,814 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Colgate-Palmolive by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,679,771 shares of the company’s stock worth $112,456,000 after buying an additional 10,209 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Colgate-Palmolive by 9.1% during the third quarter. Baird Financial Group Inc. now owns 44,450 shares of the company’s stock worth $2,981,000 after buying an additional 3,726 shares in the last quarter. Finally, Standard Life Aberdeen plc grew its holdings in shares of Colgate-Palmolive by 5.0% during the third quarter. Standard Life Aberdeen plc now owns 345,470 shares of the company’s stock worth $23,130,000 after buying an additional 16,446 shares in the last quarter. 76.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CL traded up $2.61 during mid-day trading on Friday, reaching $71.30. 5,689,727 shares of the company’s stock were exchanged, compared to its average volume of 3,843,177. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $71.50. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 32.25. The firm has a market cap of $59.34 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 4.53 and a beta of 0.79.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the firm posted $0.74 EPS. Colgate-Palmolive’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a $0.43 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, April 17th. This represents a $1.72 annualized dividend and a yield of 2.41%. Colgate-Palmolive’s payout ratio is presently 57.91%.

In other Colgate-Palmolive news, Director John T. Cahill sold 5,780 shares of Colgate-Palmolive stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $64.46, for a total value of $372,578.80. Following the completion of the sale, the director now owns 27,820 shares in the company, valued at approximately $1,793,277.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ian M. Cook sold 22,634 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.31, for a total value of $1,500,860.54. Following the completion of the sale, the chief executive officer now owns 1,162,793 shares of the company’s stock, valued at approximately $77,104,803.83. The disclosure for this sale can be found here. Insiders sold a total of 103,200 shares of company stock valued at $6,900,449 in the last three months. 1.14% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Tuesday. UBS Group upped their price objective on shares of Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a report on Friday, March 29th. Citigroup set a $68.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, March 19th. Credit Suisse Group initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, March 6th. They set an “underperform” rating for the company. Finally, BNP Paribas raised shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $56.00 to $67.00 in a research note on Monday, February 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $65.73.

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Colgate-Palmolive Company Profile

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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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

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