Caisse de depot et placement du Quebec Reduces Position in Colgate-Palmolive Company $CL

Caisse de depot et placement du Quebec lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 40.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,291 shares of the company’s stock after selling 153,410 shares during the period. Caisse de depot et placement du Quebec’s holdings in Colgate-Palmolive were worth $20,655,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. HighPoint Advisor Group LLC increased its holdings in shares of Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after buying an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after acquiring an additional 113 shares during the last quarter. Cooper Financial Group grew its position in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after acquiring an additional 114 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after acquiring an additional 114 shares during the last quarter. Finally, Gould Capital LLC increased its stake in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CL. Barclays upped their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE CL opened at $90.75 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $72.34 billion, a PE ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a fifty day simple moving average of $92.02 and a 200-day simple moving average of $90.06.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.