Bowen Hanes & Co. Inc. lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,651 shares of the company’s stock after selling 386 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Colgate-Palmolive were worth $28,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Colgate-Palmolive by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after purchasing an additional 169,798 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Colgate-Palmolive by 2.6% during the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock worth $350,015,000 after purchasing an additional 122,983 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Colgate-Palmolive by 84.2% during the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after purchasing an additional 2,082,262 shares in the last quarter. Legal & General Group Plc raised its holdings in Colgate-Palmolive by 5.1% during the first quarter. Legal & General Group Plc now owns 4,293,890 shares of the company’s stock worth $314,276,000 after purchasing an additional 208,905 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Colgate-Palmolive by 22.2% during the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after purchasing an additional 666,400 shares in the last quarter. Institutional investors own 73.10% of the company’s stock.

Several research firms recently issued reports on CL. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday. Jefferies Group LLC reissued a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, September 28th. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $84.00 in a report on Monday, September 25th. Macquarie began coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price target for the company. Finally, Deutsche Bank AG reissued a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $76.31.

Shares of Colgate-Palmolive Company (NYSE CL) opened at 73.21 on Friday. The stock has a 50 day moving average of $71.95 and a 200 day moving average of $73.18. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm has a market capitalization of $64.49 billion, a price-to-earnings ratio of 27.21 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 (EPS) for the quarter, meeting the Zacks’ 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 analyst estimates of $3.89 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.

In other news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the sale, the insider now owns 53,022 shares in the company, valued at $3,839,323.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Justin Skala sold 74,374 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the sale, the chief operating officer now owns 97,177 shares in the company, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. Insiders have sold 217,969 shares of company stock worth $15,693,933 in the last 90 days. 1.02% of the stock is owned by company insiders.

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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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