Colgate-Palmolive (NYSE:CL) Position Reduced by Buckley Wealth Management LLC

Buckley Wealth Management LLC decreased its holdings in Colgate-Palmolive (NYSE:CL) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,285 shares of the company’s stock after selling 468 shares during the quarter. Buckley Wealth Management LLC’s holdings in Colgate-Palmolive were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth $488,436,000. BlackRock Inc. raised its stake in Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after acquiring an additional 7,236,342 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Colgate-Palmolive by 5,779.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,625,533 shares of the company’s stock worth $95,000 after acquiring an additional 5,529,852 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in Colgate-Palmolive by 405.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,283,928 shares of the company’s stock worth $76,419,000 after acquiring an additional 1,029,873 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CL traded up $0.13 during trading on Friday, reaching $71.95. 2,433,465 shares of the company traded hands, compared to its average volume of 3,805,304. The firm has a market capitalization of $61.77 billion, a P/E ratio of 24.23, a PEG ratio of 4.77 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $72.85. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.74 and a current ratio of 1.07.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.

In related news, CFO Henning I. Jakobsen sold 969 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.39, for a total value of $64,331.91. Following the completion of the transaction, the chief financial officer now owns 35,208 shares in the company, valued at approximately $2,337,459.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Daniels sold 3,498 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $232,232.22. Following the completion of the transaction, the insider now owns 38,824 shares of the company’s stock, valued at approximately $2,577,525.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,149 shares of company stock valued at $17,203,908. 1.14% of the stock is owned by company insiders.

A number of equities analysts recently issued reports on CL shares. Goldman Sachs Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. Jefferies Financial Group restated a “hold” rating and issued a $61.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 1st. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 30th. BNP Paribas upgraded Colgate-Palmolive from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $56.00 to $67.00 in a research note on Monday, February 11th. Finally, Evercore ISI began coverage on Colgate-Palmolive in a research note on Thursday, January 10th. They issued an “outperform” rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.81.

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About Colgate-Palmolive

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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