KBC Group NV Lowers Position in Colgate-Palmolive (NYSE:CL)

KBC Group NV decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 15.3% during the third quarter, Holdings Channel.com reports. The firm owned 525,247 shares of the company’s stock after selling 95,167 shares during the period. KBC Group NV’s holdings in Colgate-Palmolive were worth $39,699,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in Colgate-Palmolive in the second quarter worth about $7,487,000. Tocqueville Asset Management L.P. grew its stake in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 480,143 shares of the company’s stock worth $39,060,000 after purchasing an additional 5,318 shares during the period. Liberty One Investment Management LLC grew its stake in Colgate-Palmolive by 4.6% in the 3rd quarter. Liberty One Investment Management LLC now owns 33,554 shares of the company’s stock valued at $2,536,000 after acquiring an additional 1,477 shares during the period. Scotia Capital Inc. grew its stake in Colgate-Palmolive by 3.4% in the 2nd quarter. Scotia Capital Inc. now owns 88,787 shares of the company’s stock valued at $7,223,000 after acquiring an additional 2,917 shares during the period. Finally, Coerente Capital Management lifted its holdings in Colgate-Palmolive by 0.6% in the 3rd quarter. Coerente Capital Management now owns 243,709 shares of the company’s stock valued at $18,419,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

A number of analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Colgate-Palmolive from $90.00 to $85.00 and set a “sector perform” rating for the company in a research report on Monday, November 1st. Berenberg Bank decreased their target price on Colgate-Palmolive from $85.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, November 2nd. UBS Group assumed coverage on Colgate-Palmolive in a research note on Thursday, December 16th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft raised Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their target price for the company from $84.00 to $86.00 in a report on Monday, September 20th. Finally, Redburn Partners began coverage on Colgate-Palmolive in a research report on Thursday, December 16th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.73.

Shares of CL opened at $83.45 on Friday. The business’s 50 day simple moving average is $80.51 and its 200-day simple moving average is $79.18. Colgate-Palmolive has a one year low of $74.01 and a one year high of $85.61. The company has a debt-to-equity ratio of 7.48, a current ratio of 1.09 and a quick ratio of 0.70. The company has a market capitalization of $70.34 billion, a P/E ratio of 26.66, a PEG ratio of 4.27 and a beta of 0.64.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Thursday, October 28th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Colgate-Palmolive had a return on equity of 297.62% and a net margin of 15.37%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Monday, January 24th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, January 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Colgate-Palmolive’s dividend payout ratio is presently 57.51%.

In other news, CEO Noel R. Wallace sold 145,200 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $77.18, for a total transaction of $11,206,536.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John W. Kooyman sold 576 shares of the business’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $77.14, for a total transaction of $44,432.64. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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

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