Colgate-Palmolive (CL) Position Cut by Zevin Asset Management LLC

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Zevin Asset Management LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,552 shares of the company’s stock after selling 2,973 shares during the period. Colgate-Palmolive makes up 1.4% of Zevin Asset Management LLC’s holdings, making the stock its 27th largest position. Zevin Asset Management LLC’s holdings in Colgate-Palmolive were worth $4,702,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in Colgate-Palmolive by 3.0% during the 1st quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock valued at $3,867,373,000 after buying an additional 1,592,608 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Colgate-Palmolive by 11.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock valued at $2,110,235,000 after buying an additional 3,397,667 shares in the last quarter. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock valued at $1,304,974,000 after buying an additional 1,596,825 shares in the last quarter. Wells Fargo & Company MN increased its position in Colgate-Palmolive by 11.3% during the 1st quarter. Wells Fargo & Company MN now owns 9,886,686 shares of the company’s stock valued at $708,678,000 after buying an additional 1,003,612 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in Colgate-Palmolive by 45.7% during the 1st quarter. First Eagle Investment Management LLC now owns 7,830,595 shares of the company’s stock valued at $561,297,000 after buying an additional 2,455,839 shares in the last quarter. 74.05% of the stock is currently owned by institutional investors.

CL has been the topic of a number of research reports. Morgan Stanley cut their price objective on Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 21st. Citigroup cut their price objective on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Barclays set a $70.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, April 30th. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, ValuEngine lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $72.14.

In related news, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $63.25, for a total transaction of $1,233,375.00. Following the sale, the insider now directly owns 78,065 shares of the company’s stock, valued at $4,937,611.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mukul Deoras sold 11,334 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $65.10, for a total value of $737,843.40. Following the sale, the insider now directly owns 32,625 shares in the company, valued at $2,123,887.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 433,302 shares of company stock worth $28,518,498. 1.02% of the stock is owned by corporate insiders.

Shares of CL stock opened at $67.86 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. The stock has a market capitalization of $56.78 billion, a PE ratio of 23.64, a PEG ratio of 2.93 and a beta of 0.75. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, July 18th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.

Colgate-Palmolive announced that its board has approved a stock repurchase program on Monday, June 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.

See Also: Asset Allocation

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

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