Colgate-Palmolive (CL) Holdings Trimmed by Marshall Wace LLP

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Marshall Wace LLP lessened its position in shares of Colgate-Palmolive (NYSE:CL) by 6.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 115,883 shares of the company’s stock after selling 7,895 shares during the quarter. Marshall Wace LLP’s holdings in Colgate-Palmolive were worth $7,510,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CL. BlackRock Inc. grew its position in shares of Colgate-Palmolive by 3.0% during the 1st quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock worth $3,867,373,000 after buying an additional 1,592,608 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Colgate-Palmolive by 11.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after buying an additional 3,397,667 shares during the period. Bank of New York Mellon Corp grew its position in Colgate-Palmolive by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock valued at $1,304,974,000 after purchasing an additional 1,596,825 shares during the period. OppenheimerFunds Inc. grew its position in Colgate-Palmolive by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock valued at $439,801,000 after purchasing an additional 405,430 shares during the period. Finally, Fiera Capital Corp grew its position in Colgate-Palmolive by 4.6% in the 2nd quarter. Fiera Capital Corp now owns 5,012,573 shares of the company’s stock valued at $324,865,000 after purchasing an additional 219,925 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CL opened at $67.99 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. Colgate-Palmolive has a 1-year low of $61.28 and a 1-year high of $77.91. The firm has a market cap of $58.99 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 3.04 and a beta of 0.72.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the business earned $0.72 EPS. The business’s revenue was up 1.6% on a year-over-year basis. sell-side analysts forecast that Colgate-Palmolive will post 3.02 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.47%. The ex-dividend date is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 1,015 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $68,055.75. Following the transaction, the chief financial officer now directly owns 36,193 shares in the company, valued at approximately $2,426,740.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Noel R. Wallace sold 44,625 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $66.22, for a total value of $2,955,067.50. Following the transaction, the chief operating officer now owns 235,026 shares in the company, valued at $15,563,421.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,279 shares of company stock worth $27,384,156. Company insiders own 1.02% of the company’s stock.

Several analysts recently issued reports on CL shares. Argus raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. They noted that the move was a valuation call. UBS Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $75.00 in a research report on Wednesday, July 18th. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 21st. Barclays set a $64.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $64.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.14.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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

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