BB&T Securities LLC Cuts Stake in Colgate-Palmolive (CL)

BB&T Securities LLC lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 20.6% in the third quarter, Holdings Channel reports. The institutional investor owned 49,643 shares of the company’s stock after selling 12,891 shares during the quarter. BB&T Securities LLC’s holdings in Colgate-Palmolive were worth $3,616,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CL. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares in the last quarter. Renaissance Technologies LLC raised its stake in Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after purchasing an additional 2,903,800 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after purchasing an additional 1,385,946 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Colgate-Palmolive by 35.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock worth $483,837,000 after purchasing an additional 1,750,417 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Colgate-Palmolive by 3.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,725,042 shares of the company’s stock worth $350,267,000 after purchasing an additional 170,053 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

Several analysts have weighed in on CL shares. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, September 25th. SunTrust Banks upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. Stifel Nicolaus set a $73.00 price objective on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a report on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.51.

Colgate-Palmolive (CL) opened at $74.62 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a market cap of $65,462.75, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.15 and a beta of 0.80.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. equities research analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 61.78%.

In related news, insider Jennifer Daniels sold 7,375 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $73.18, for a total transaction of $539,702.50. Following the sale, the insider now directly owns 38,691 shares of the company’s stock, valued at approximately $2,831,407.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Justin Skala sold 126,393 shares of Colgate-Palmolive 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 sale, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Insiders have sold a total of 181,950 shares of company stock worth $13,237,385 over the last ninety days. 1.02% of the stock is currently owned by insiders.

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Colgate-Palmolive Company Profile

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

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