Principal Street Partners LLC Sells 299 Shares of Colgate-Palmolive (NYSE:CL)

Principal Street Partners LLC lowered its stake in Colgate-Palmolive (NYSE:CL) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,899 shares of the company’s stock after selling 299 shares during the quarter. Principal Street Partners LLC’s holdings in Colgate-Palmolive were worth $371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Creative Planning raised its holdings in Colgate-Palmolive by 10.3% in the 3rd quarter. Creative Planning now owns 104,328 shares of the company’s stock valued at $7,885,000 after buying an additional 9,746 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Colgate-Palmolive by 5,045.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 165,527 shares of the company’s stock valued at $12,511,000 after purchasing an additional 162,310 shares during the period. Forsta AP Fonden increased its position in Colgate-Palmolive by 54.0% during the 3rd quarter. Forsta AP Fonden now owns 309,300 shares of the company’s stock valued at $23,377,000 after purchasing an additional 108,400 shares during the period. Orion Portfolio Solutions LLC increased its position in Colgate-Palmolive by 15.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,136 shares of the company’s stock valued at $388,000 after purchasing an additional 698 shares during the period. Finally, Alliancebernstein L.P. increased its position in Colgate-Palmolive by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,802,603 shares of the company’s stock valued at $136,241,000 after purchasing an additional 27,513 shares during the period. Institutional investors and hedge funds own 76.61% of the company’s stock.

NYSE CL opened at $82.20 on Friday. Colgate-Palmolive has a one year low of $74.01 and a one year high of $85.61. The business’s fifty day moving average is $80.40 and its 200-day moving average is $79.16. The stock has a market capitalization of $69.28 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.27 and a beta of 0.64. The company has a debt-to-equity ratio of 7.48, a current ratio of 1.09 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, October 28th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Colgate-Palmolive had a return on equity of 297.62% and a net margin of 15.37%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Research analysts expect that Colgate-Palmolive will post 3.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Monday, January 24th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. Colgate-Palmolive’s payout ratio is presently 57.51%.

CL has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Colgate-Palmolive from $90.00 to $85.00 and set a “sector perform” rating for the company in a research report on Monday, November 1st. UBS Group began coverage on shares of Colgate-Palmolive in a research report on Thursday, December 16th. They set a “neutral” rating for the company. Berenberg Bank reduced their price objective on shares of Colgate-Palmolive from $85.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, November 2nd. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $82.00 price objective for the company. in a research report on Tuesday, November 9th. Finally, Bank of America began coverage on shares of Colgate-Palmolive in a research report on Tuesday, October 5th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.73.

In related news, CEO Noel R. Wallace sold 145,200 shares of the business’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $77.18, for a total value of $11,206,536.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John W. Kooyman sold 576 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $77.14, for a total value of $44,432.64. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

About Colgate-Palmolive

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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