Public Employees Retirement Association of Colorado Sells 2,677 Shares of Colgate-Palmolive (NYSE:CL)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,760 shares of the company’s stock after selling 2,677 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Colgate-Palmolive were worth $9,457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in shares of Colgate-Palmolive by 9.5% during the second quarter. Canada Pension Plan Investment Board now owns 2,217,910 shares of the company’s stock valued at $170,868,000 after buying an additional 192,170 shares during the period. Ellevest Inc. increased its stake in shares of Colgate-Palmolive by 21.7% during the second quarter. Ellevest Inc. now owns 4,645 shares of the company’s stock valued at $358,000 after buying an additional 827 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Colgate-Palmolive by 12.7% during the second quarter. Banque Cantonale Vaudoise now owns 57,729 shares of the company’s stock valued at $4,448,000 after buying an additional 6,500 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Colgate-Palmolive by 2.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 144,679 shares of the company’s stock valued at $11,146,000 after buying an additional 3,090 shares during the period. Finally, Coastal Investment Advisors Inc. grew its stake in Colgate-Palmolive by 23.7% in the second quarter. Coastal Investment Advisors Inc. now owns 7,328 shares of the company’s stock valued at $565,000 after purchasing an additional 1,405 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.9 %

Colgate-Palmolive stock opened at $76.66 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 21.40. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $82.09. The company has a market capitalization of $63.12 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 3.37 and a beta of 0.46. The stock has a 50-day moving average price of $72.74 and a 200 day moving average price of $75.29.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Colgate-Palmolive had a return on equity of 533.40% and a net margin of 8.29%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive will post 3.2 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s payout ratio is presently 100.00%.

Analyst Ratings Changes

Several research firms have issued reports on CL. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Citigroup cut their target price on Colgate-Palmolive from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, October 11th. Bank of America cut their target price on Colgate-Palmolive from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Morgan Stanley dropped their price target on Colgate-Palmolive from $89.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, Royal Bank of Canada boosted their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Monday, October 30th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $82.57.

Insider Transactions at Colgate-Palmolive

In other news, insider Jennifer Daniels sold 24,704 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $73.31, for a total transaction of $1,811,050.24. Following the completion of the transaction, the insider now directly owns 52,813 shares of the company’s stock, valued at approximately $3,871,721.03. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jennifer Daniels sold 24,704 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $73.31, for a total transaction of $1,811,050.24. Following the completion of the sale, the insider now directly owns 52,813 shares in the company, valued at $3,871,721.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $75.11, for a total value of $225,330.00. Following the sale, the insider now owns 5,347 shares of the company’s stock, valued at $401,613.17. The disclosure for this sale can be found here. Insiders sold a total of 93,153 shares of company stock valued at $6,851,466 in the last three months. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Company Profile

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. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.