B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund cut its holdings in Colgate-Palmolive (NYSE:CL) by 39.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,000 shares of the company’s stock after selling 9,000 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Colgate-Palmolive were worth $907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CL. Massachusetts Financial Services Co. MA raised its position in shares of Colgate-Palmolive by 11.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after purchasing an additional 3,397,667 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Colgate-Palmolive by 636.9% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,463,287 shares of the company’s stock worth $248,248,000 after purchasing an additional 2,993,298 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Colgate-Palmolive during the second quarter worth approximately $173,852,000. Bank of New York Mellon Corp raised its position in shares of Colgate-Palmolive by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after purchasing an additional 1,596,825 shares during the period. Finally, BlackRock Inc. raised its position in shares of Colgate-Palmolive by 3.0% during the first quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock worth $3,867,373,000 after purchasing an additional 1,592,608 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Noel R. Wallace sold 44,625 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $66.22, for a total transaction of $2,955,067.50. Following the completion of the sale, the chief operating officer now owns 235,026 shares in the company, valued at $15,563,421.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel B. Marsili sold 19,500 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $65.40, for a total value of $1,275,300.00. Following the sale, the insider now owns 78,065 shares of the company’s stock, valued at approximately $5,105,451. The disclosure for this sale can be found here. Insiders have sold 415,279 shares of company stock valued at $27,384,156 in the last quarter. 1.02% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently weighed in on the company. Barclays set a $64.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Monday, July 30th. Macquarie lowered Colgate-Palmolive from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $74.00 to $65.00 in a research report on Monday, July 30th. UBS Group raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their target price for the stock from $70.00 to $75.00 in a research report on Wednesday, July 18th. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $72.00 target price on shares of Colgate-Palmolive in a research report on Thursday, May 24th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.14.

Shares of Colgate-Palmolive stock opened at $68.16 on Friday. Colgate-Palmolive has a 12-month low of $61.28 and a 12-month high of $77.91. The firm has a market cap of $58.29 billion, a P/E ratio of 23.75, a P/E/G ratio of 3.00 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of -34.49.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Colgate-Palmolive’s revenue was up 1.6% compared to the same quarter last year. equities analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has initiated a stock buyback program on Monday, June 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.46%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.54%.

About Colgate-Palmolive

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

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

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