Blume Capital Management Inc. Raises Position in Colgate-Palmolive (CL)

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Blume Capital Management Inc. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,517 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Blume Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,240,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CL. Massachusetts Financial Services Co. MA raised its holdings in Colgate-Palmolive by 11.7% in 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 acquiring an additional 3,397,667 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Colgate-Palmolive by 8.6% in 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 acquiring an additional 1,596,825 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Colgate-Palmolive by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock valued at $439,801,000 after acquiring an additional 405,430 shares during the last quarter. Fiera Capital Corp raised its holdings in Colgate-Palmolive by 4.6% in the 2nd quarter. Fiera Capital Corp now owns 5,012,573 shares of the company’s stock valued at $324,865,000 after acquiring an additional 219,925 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Colgate-Palmolive by 15.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,093,312 shares of the company’s stock valued at $265,288,000 after acquiring an additional 543,500 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Shares of Colgate-Palmolive stock opened at $60.23 on Tuesday. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.11 and a quick ratio of 0.77. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $77.91. The firm has a market cap of $52.29 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.96 and a beta of 0.75.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company earned $0.73 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.

In related news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the sale, the insider now directly owns 202,414 shares of the company’s stock, valued at approximately $13,302,648.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 17,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,112,480.00. Following the sale, the vice president now directly owns 49,949 shares of the company’s stock, valued at $3,268,662.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,585 shares of company stock valued at $11,132,140. 1.02% of the stock is owned by corporate insiders.

Several brokerages have weighed in on CL. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Argus cut their price target on Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Stifel Nicolaus cut their price target on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, July 23rd. SunTrust Banks downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the company from $80.00 to $65.00 in a report on Friday, October 26th. Finally, Wells Fargo & Co cut their price target on Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.06.

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Colgate-Palmolive 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.

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

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