BBR Partners LLC Cuts Position in Colgate-Palmolive (NYSE:CL)

BBR Partners LLC trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 29.6% during the second quarter, Holdings Channel reports. The firm owned 6,081 shares of the company’s stock after selling 2,556 shares during the quarter. BBR Partners LLC’s holdings in Colgate-Palmolive were worth $590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI grew its holdings in shares of Colgate-Palmolive by 79.2% in the second quarter. National Bank of Canada FI now owns 1,175,691 shares of the company’s stock valued at $112,321,000 after purchasing an additional 519,553 shares in the last quarter. TD Asset Management Inc boosted its position in Colgate-Palmolive by 2.6% in the 2nd quarter. TD Asset Management Inc now owns 1,184,713 shares of the company’s stock valued at $114,965,000 after buying an additional 30,147 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of Colgate-Palmolive in the second quarter worth $225,000. Wealth Effects LLC purchased a new stake in shares of Colgate-Palmolive during the second quarter worth $210,000. Finally, Simon Quick Advisors LLC raised its stake in shares of Colgate-Palmolive by 4.6% in the second quarter. Simon Quick Advisors LLC now owns 5,935 shares of the company’s stock valued at $576,000 after acquiring an additional 262 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CL. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. UBS Group raised their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Sanford C. Bernstein increased their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Finally, TD Cowen lifted their price objective on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $102.53.

Insider Buying and Selling

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

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $108.52 on Friday. The stock has a market cap of $89.03 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.73 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30. The stock has a 50 day moving average of $100.86 and a two-hundred day moving average of $94.28. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. Colgate-Palmolive’s dividend payout ratio (DPR) is 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.