North Star Asset Management Inc. Trims Position in Colgate-Palmolive Company (CL)

North Star Asset Management Inc. decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,166 shares of the company’s stock after selling 426 shares during the period. North Star Asset Management Inc.’s holdings in Colgate-Palmolive were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. Bank of Nova Scotia raised its holdings in Colgate-Palmolive by 94.6% during the 1st quarter. Bank of Nova Scotia now owns 408,894 shares of the company’s stock worth $29,927,000 after purchasing an additional 198,798 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in Colgate-Palmolive during the 1st quarter worth about $102,000. Financial Advisors Network Inc. raised its holdings in Colgate-Palmolive by 4.0% during the 1st quarter. Financial Advisors Network Inc. now owns 4,234 shares of the company’s stock worth $302,000 after purchasing an additional 164 shares during the last quarter. Adalta Capital Management LLC bought a new stake in Colgate-Palmolive during the 1st quarter worth about $634,000. Finally, Summit Global Investments raised its holdings in Colgate-Palmolive by 26.6% during the 1st quarter. Summit Global Investments now owns 43,818 shares of the company’s stock worth $3,207,000 after purchasing an additional 9,201 shares during the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.

Colgate-Palmolive Company (NYSE CL) traded down 0.01% during trading on Wednesday, reaching $71.94. The company’s stock had a trading volume of 568,453 shares. The stock has a market cap of $63.37 billion, a PE ratio of 26.73 and a beta of 0.80. The company’s 50-day moving average is $71.62 and its 200-day moving average is $73.32. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.

Several analysts have weighed in on the company. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a report on Thursday, May 25th. BidaskClub cut Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, August 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $75.82.

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In related news, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the completion of the sale, the chief operating officer now owns 97,177 shares in the company, valued at $7,046,304.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the sale, the insider now owns 53,022 shares of the company’s stock, valued at approximately $4,012,174.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,802 shares of company stock valued at $15,983,976. Corporate insiders own 1.02% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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