Colgate-Palmolive (NYSE:CL) Position Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in Colgate-Palmolive (NYSE:CL) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,825 shares of the company’s stock after selling 704 shares during the period. Kentucky Retirement Systems’ holdings in Colgate-Palmolive were worth $5,999,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Main Street Research LLC grew its position in Colgate-Palmolive by 1.5% during the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after purchasing an additional 100 shares in the last quarter. Advisor OS LLC raised its position in Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after buying an additional 101 shares during the period. BLB&B Advisors LLC lifted its stake in Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after acquiring an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its position in Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after acquiring an additional 109 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Colgate-Palmolive by 9.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock valued at $124,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last 90 days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

CL has been the subject of several research reports. Citigroup raised their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Hsbc Global Res cut Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein upped their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.79.

Colgate-Palmolive Trading Down 1.3 %

NYSE:CL opened at $103.17 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The company’s 50 day moving average is $102.53 and its 200-day moving average is $95.61. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.