Gabelli Funds LLC Lowers Position in Colgate-Palmolive (CL)

Gabelli Funds LLC lowered its stake in Colgate-Palmolive (NYSE:CL) by 2.7% in the first quarter, HoldingsChannel reports. The firm owned 30,250 shares of the company’s stock after selling 850 shares during the quarter. Gabelli Funds LLC’s holdings in Colgate-Palmolive were worth $2,073,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CL. Capital Financial Planning LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth $27,000. Parisi Gray Wealth Management lifted its position in Colgate-Palmolive by 365.3% in the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. Timber Creek Capital Management LLC lifted its position in Colgate-Palmolive by 247.1% in the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock valued at $28,000 after acquiring an additional 336 shares in the last quarter. Portfolio Solutions LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at $30,000. Finally, WP Advisors LLC bought a new stake in Colgate-Palmolive in the 1st quarter valued at $34,000. 75.95% of the stock is owned by institutional investors and hedge funds.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 969 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total transaction of $64,331.91. Following 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 accessible through the SEC website. Also, VP Justin Skala sold 4,488 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.39, for a total transaction of $297,958.32. Following the transaction, the vice president now owns 71,010 shares in the company, valued at approximately $4,714,353.90. The disclosure for this sale can be found here. Insiders have sold a total of 352,831 shares of company stock worth $24,752,192 over the last 90 days. 1.14% of the stock is owned by company insiders.

Several equities research analysts recently commented on CL shares. Wells Fargo & Co reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research report on Friday, January 25th. Morgan Stanley set a $62.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Macquarie set a $57.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $61.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $69.69.

Shares of NYSE:CL opened at $71.15 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a one year low of $57.41 and a one year high of $72.85. The stock has a market cap of $61.44 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 4.69 and a beta of 0.81.

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, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. Colgate-Palmolive’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, equities analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. Colgate-Palmolive’s payout ratio is currently 57.91%.

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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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