Sun Life Financial INC Reduces Position in Colgate-Palmolive (CL)

Sun Life Financial INC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,271 shares of the company’s stock after selling 1,010 shares during the quarter. Sun Life Financial INC’s holdings in Colgate-Palmolive were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its holdings in Colgate-Palmolive by 0.7% in the second quarter. Xact Kapitalforvaltning AB now owns 141,455 shares of the company’s stock worth $10,486,000 after acquiring an additional 965 shares in the last quarter. Bremer Trust National Association boosted its holdings in Colgate-Palmolive by 18.4% in the second quarter. Bremer Trust National Association now owns 8,830 shares of the company’s stock worth $655,000 after acquiring an additional 1,371 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in Colgate-Palmolive by 223.5% in the second quarter. Fox Run Management L.L.C. now owns 11,000 shares of the company’s stock worth $815,000 after acquiring an additional 7,600 shares in the last quarter. Factory Mutual Insurance Co. boosted its holdings in Colgate-Palmolive by 21.4% in the second quarter. Factory Mutual Insurance Co. now owns 283,400 shares of the company’s stock worth $21,009,000 after acquiring an additional 50,000 shares in the last quarter. Finally, BKD Wealth Advisors LLC boosted its holdings in Colgate-Palmolive by 1.5% in the second quarter. BKD Wealth Advisors LLC now owns 41,874 shares of the company’s stock worth $3,104,000 after acquiring an additional 633 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

Several equities research analysts have commented on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, October 23rd. Deutsche Bank started coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price on the stock. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Finally, Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $76.51.

Colgate-Palmolive (CL) opened at $74.62 on Friday. The stock has a market capitalization of $65,524.20, a price-to-earnings ratio of 26.00, a PEG ratio of 3.15 and a beta of 0.80. The company has a current ratio of 1.23, a quick ratio of 0.92 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.

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

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

In related news, Director Stephen I. Sadove sold 20,780 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the sale, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria L. Dolan sold 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total value of $730,700.00. Following the sale, the insider now owns 60,528 shares of the company’s stock, valued at approximately $4,422,780.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,950 shares of company stock worth $13,237,385. Corporate insiders own 1.02% of the company’s stock.

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About Colgate-Palmolive

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.

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

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