Teachers Retirement System of The State of Kentucky Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Teachers Retirement System of The State of Kentucky cut its position in Colgate-Palmolive (NYSE:CL) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 65,695 shares of the company’s stock after selling 1,944 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Colgate-Palmolive were worth $6,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the second quarter worth about $25,000. Core Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. Rise Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter valued at about $38,000. Continuum Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $40,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CL. Sanford C. Bernstein raised their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Finally, UBS Group boosted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.74.

Insiders Place Their Bets

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.3 %

CL opened at $102.06 on Thursday. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The business has a fifty day simple moving average of $103.59 and a 200-day simple moving average of $96.66. The firm has a market cap of $83.73 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.62 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.