Public Sector Pension Investment Board Sells 689,758 Shares of Colgate-Palmolive Company $CL

Public Sector Pension Investment Board reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 90.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,824 shares of the company’s stock after selling 689,758 shares during the quarter. Public Sector Pension Investment Board’s holdings in Colgate-Palmolive were worth $5,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CL. Norges Bank purchased a new position in Colgate-Palmolive in the 2nd quarter worth about $960,390,000. Schroder Investment Management Group grew its stake in shares of Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Colgate-Palmolive by 3,052.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after buying an additional 2,611,485 shares during the period. Diamond Hill Capital Management Inc. raised its position in Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after purchasing an additional 1,839,853 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of a number of analyst reports. UBS Group lifted their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Jefferies Financial Group boosted their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Bank of America raised their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $94.00 price target on shares of Colgate-Palmolive in a research report on Saturday, January 31st. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $94.38.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 184,683 shares of company stock valued at $17,486,693. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.1%

Colgate-Palmolive stock opened at $95.52 on Thursday. The stock’s fifty day moving average is $84.94 and its two-hundred day moving average is $82.11. The stock has a market cap of $77.00 billion, a PE ratio of 36.46, a P/E/G ratio of 4.31 and a beta of 0.29. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is 79.39%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.