Colgate-Palmolive (CL) Holdings Reduced by Osher Van de Voorde Investment Management
Osher Van de Voorde Investment Management reduced its position in Colgate-Palmolive (NYSE:CL) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 94,017 shares of the company’s stock after selling 580 shares during the period. Colgate-Palmolive comprises approximately 3.7% of Osher Van de Voorde Investment Management’s holdings, making the stock its 22nd biggest holding. Osher Van de Voorde Investment Management’s holdings in Colgate-Palmolive were worth $6,969,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of Colgate-Palmolive by 42.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after buying an additional 2,903,800 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Colgate-Palmolive by 84.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after acquiring an additional 2,082,262 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after acquiring an additional 1,621,392 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Colgate-Palmolive by 25.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after acquiring an additional 1,385,946 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Colgate-Palmolive by 77.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,092,033 shares of the company’s stock worth $229,212,000 after acquiring an additional 1,353,177 shares during the period. 72.96% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. Societe Generale downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective for the company. in a report on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup cut their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, Morgan Stanley cut their price target on shares of Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.04.
Shares of Colgate-Palmolive (NYSE CL) opened at $74.59 on Wednesday. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. The firm has a market cap of $65,436.40, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.41 and a beta of 0.81. Colgate-Palmolive has a 1 year low of $63.43 and a 1 year high of $77.27.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the company posted $0.73 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. equities research analysts forecast that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is 61.78%.
In related news, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the transaction, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Justin Skala sold 126,393 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the transaction, the chief operating officer now owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,673 shares of company stock valued at $12,629,293. 1.02% of the stock is owned by corporate insiders.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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