Colgate-Palmolive Company $CL Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,799,626 shares of the company’s stock after selling 20,347 shares during the quarter. Mackenzie Financial Corp owned about 0.47% of Colgate-Palmolive worth $303,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC raised its holdings in shares of Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $5,373,000. Asset Management One Co. Ltd. grew its position in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after buying an additional 16,017 shares during the last quarter. Citigroup Inc. raised its stake in Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after acquiring an additional 409,710 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $92.45 on Wednesday. The business has a fifty day simple moving average of $89.50 and a 200 day simple moving average of $83.13. The firm has a market capitalization of $74.52 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 4.17 and a beta of 0.28. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CL. The Goldman Sachs Group restated a “buy” rating and set a $100.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 20th. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 1st. Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Citigroup raised their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Insider Buying and Selling at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 184,683 shares of company stock worth $17,486,693 over the last quarter. Company insiders own 0.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.