Davis R M Inc. cut its stake in Colgate-Palmolive Company (NYSE:CL) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 235,236 shares of the company’s stock after selling 9,051 shares during the period. Davis R M Inc.’s holdings in Colgate-Palmolive were worth $17,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in Colgate-Palmolive by 4.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after purchasing an additional 77,414 shares during the period. Israel Discount Bank of New York acquired a new position in Colgate-Palmolive in the 1st quarter worth $1,349,000. Principal Financial Group Inc. boosted its stake in Colgate-Palmolive by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock worth $93,025,000 after purchasing an additional 7,905 shares during the period. Personal Capital Advisors Corp boosted its stake in Colgate-Palmolive by 5.8% in the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock worth $29,209,000 after purchasing an additional 21,456 shares during the period. Finally, Shelton Capital Management boosted its stake in Colgate-Palmolive by 37.2% in the 1st quarter. Shelton Capital Management now owns 41,487 shares of the company’s stock worth $3,036,000 after purchasing an additional 11,242 shares during the period. 73.10% of the stock is owned by hedge funds and other institutional investors.

CL has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Macquarie initiated coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective for the company. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Finally, BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $76.31.

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Shares of Colgate-Palmolive Company (CL) opened at 72.72 on Friday. The stock has a 50 day moving average of $71.99 and a 200-day moving average of $73.17. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a market capitalization of $64.05 billion, a PE ratio of 27.02 and a beta of 0.81.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.

In related news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the transaction, the insider now directly owns 53,173 shares in the company, valued at $3,799,210.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the transaction, the chief financial officer now owns 484,985 shares in the company, valued at $34,821,923. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,969 shares of company stock worth $15,693,933. 1.02% of the stock is owned by corporate insiders.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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