Mackenzie Financial Corp Sells 1,811 Shares of Colgate-Palmolive (NYSE:CL)

Mackenzie Financial Corp decreased its position in Colgate-Palmolive (NYSE:CL) by 0.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,074,736 shares of the company’s stock after selling 1,811 shares during the quarter. Mackenzie Financial Corp’s holdings in Colgate-Palmolive were worth $395,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Colgate-Palmolive in the 2nd quarter worth about $25,000. Core Wealth Advisors Inc. grew its holdings in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares during the period. Rise Advisors LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $38,000. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in Colgate-Palmolive during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Evercore ISI lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.74.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $103.05 on Friday. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The company has a market capitalization of $84.55 billion, a P/E ratio of 32.61, a P/E/G ratio of 3.62 and a beta of 0.40. The firm’s 50 day simple moving average is $103.14 and its two-hundred day simple moving average is $96.21.

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

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The disclosure for this sale can be found here. Insiders have 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 currently owned by corporate insiders.

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.