Investment Centers of America Inc. Decreases Stake in Colgate-Palmolive (CL)

Investment Centers of America Inc. lessened its stake in Colgate-Palmolive (NYSE:CL) by 62.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,179 shares of the company’s stock after selling 8,664 shares during the period. Investment Centers of America Inc.’s holdings in Colgate-Palmolive were worth $377,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Colgate-Palmolive by 42.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after buying an additional 2,903,800 shares in the last quarter. APG Asset Management N.V. lifted its stake in shares of Colgate-Palmolive by 243.0% during the 3rd quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock valued at $296,557,000 after buying an additional 2,884,100 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Colgate-Palmolive by 35.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock valued at $483,837,000 after buying an additional 1,750,417 shares in the last quarter. Vanguard Group Inc. lifted its stake in Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares in the last quarter. Finally, Swedbank purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $102,014,000. 72.86% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on CL. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Monday, September 25th. SunTrust Banks upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Jefferies Group cut their price target on shares of Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Monday, October 30th. Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.45.

Shares of Colgate-Palmolive (NYSE:CL) opened at $77.50 on Friday. Colgate-Palmolive has a 52-week low of $63.43 and a 52-week high of $77.91. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. The company has a market cap of $67,289.20, a P/E ratio of 29.92, a P/E/G ratio of 3.20 and a beta of 0.80.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. equities analysts forecast that Colgate-Palmolive will post 2.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 23rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, January 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. Colgate-Palmolive’s payout ratio is 61.78%.

In other news, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the sale, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Daniels sold 902 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total transaction of $68,389.64. Following the completion of the sale, the insider now owns 37,788 shares in the company, valued at approximately $2,865,086.16. The disclosure for this sale can be found here. Insiders have sold a total of 181,950 shares of company stock worth $13,237,385 in the last 90 days. 1.02% of the stock is currently owned by company insiders.

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About Colgate-Palmolive

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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