Colgate-Palmolive (NYSE:CL) Shares Sold by CLARET ASSET MANAGEMENT Corp

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CLARET ASSET MANAGEMENT Corp lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 27.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,954 shares of the company’s stock after selling 1,118 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Colgate-Palmolive were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Gyroscope Capital Management Group LLC boosted its stake in Colgate-Palmolive by 18.0% during the third quarter. Gyroscope Capital Management Group LLC now owns 6,589 shares of the company’s stock valued at $467,000 after buying an additional 1,004 shares in the last quarter. Rockland Trust Co. boosted its stake in Colgate-Palmolive by 2.3% during the third quarter. Rockland Trust Co. now owns 154,117 shares of the company’s stock valued at $10,922,000 after buying an additional 3,443 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Colgate-Palmolive by 13.7% during the third quarter. Pacer Advisors Inc. now owns 99,443 shares of the company’s stock valued at $7,310,000 after buying an additional 11,956 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Colgate-Palmolive by 5.2% during the third quarter. Artemis Investment Management LLP now owns 312,840 shares of the company’s stock valued at $22,941,000 after buying an additional 15,450 shares in the last quarter. Finally, Gofen & Glossberg LLC IL boosted its stake in Colgate-Palmolive by 4.9% during the third quarter. Gofen & Glossberg LLC IL now owns 148,449 shares of the company’s stock valued at $10,912,000 after buying an additional 6,981 shares in the last quarter. 75.95% of the stock is owned by institutional investors and hedge funds.

NYSE:CL opened at $70.51 on Friday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $76.41. The firm has a market capitalization of $60.60 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.55 and a beta of 0.75. The stock has a fifty day simple moving average of $72.36 and a 200 day simple moving average of $71.62.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the company posted $0.77 EPS. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 2.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be given a $0.43 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.44%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.

In related news, Chairman Ian M. Cook sold 19,500 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $73.05, for a total value of $1,424,475.00. Following the completion of the transaction, the chairman now owns 1,030,575 shares in the company, valued at approximately $75,283,503.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian M. Cook sold 175,616 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.65, for a total value of $12,758,502.40. Following the completion of the transaction, the insider now owns 1,125,842 shares of the company’s stock, valued at approximately $81,792,421.30. The disclosure for this sale can be found here. Insiders sold a total of 569,298 shares of company stock valued at $40,930,165 in the last quarter. 1.14% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on CL shares. Piper Jaffray Companies started coverage on Colgate-Palmolive in a research note on Tuesday, August 13th. They set an “overweight” rating for the company. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research note on Friday, July 12th. UBS Group raised their target price on Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Citigroup raised their target price on Colgate-Palmolive from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank raised their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $74.07.

Colgate-Palmolive Profile

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

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

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