Welch Group LLC Decreases Stake in Colgate-Palmolive (NYSE:CL)

Welch Group LLC trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,482 shares of the company’s stock after selling 2,383 shares during the period. Colgate-Palmolive comprises 2.8% of Welch Group LLC’s investment portfolio, making the stock its 12th largest position. Welch Group LLC owned 0.08% of Colgate-Palmolive worth $64,620,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares during the last quarter. Swedbank AB acquired a new position in Colgate-Palmolive during the 1st quarter valued at approximately $286,370,000. Acadian Asset Management LLC boosted its position in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Finally, Ossiam grew its position in shares of Colgate-Palmolive by 368.4% during the first quarter. Ossiam now owns 1,563,768 shares of the company’s stock worth $140,817,000 after acquiring an additional 1,229,891 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $0.72 during midday trading on Monday, hitting $96.33. 684,262 shares of the company were exchanged, compared to its average volume of 4,332,401. The firm has a 50 day simple moving average of $103.15 and a 200-day simple moving average of $98.06. Colgate-Palmolive has a 52 week low of $72.36 and a 52 week high of $109.30. The firm has a market cap of $79.03 billion, a P/E ratio of 30.28, a PEG ratio of 3.54 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CL. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. Bank of America raised their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Evercore ISI upped their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Citigroup upped their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.53.

Colgate-Palmolive Company Profile

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.