Bank of Nova Scotia Has $14.86 Million Position in Colgate-Palmolive (CL)

Bank of Nova Scotia reduced its holdings in Colgate-Palmolive (NYSE:CL) by 51.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,431 shares of the company’s stock after selling 208,463 shares during the period. Bank of Nova Scotia’s holdings in Colgate-Palmolive were worth $14,858,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CL. Renaissance Technologies LLC boosted its holdings in shares of Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Colgate-Palmolive by 84.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after purchasing an additional 2,082,262 shares during the period. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after purchasing an additional 1,621,392 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after purchasing an additional 1,385,946 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Colgate-Palmolive by 77.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,092,033 shares of the company’s stock valued at $229,212,000 after purchasing an additional 1,353,177 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of Colgate-Palmolive (CL) traded up $0.31 during midday trading on Friday, hitting $75.45. 1,905,199 shares of the stock were exchanged, compared to its average volume of 2,914,518. The firm has a market capitalization of $65,980.83, a PE ratio of 29.13, a price-to-earnings-growth ratio of 3.44 and a beta of 0.81. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. Colgate-Palmolive has a 1-year low of $63.43 and a 1-year high of $77.27.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. equities research analysts expect that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.

In related news, insider Jennifer Daniels sold 7,375 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $73.18, for a total value of $539,702.50. Following the completion of the sale, the insider now owns 38,691 shares of the company’s stock, valued at $2,831,407.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the sale, the director now directly owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. Insiders sold 181,048 shares of company stock valued at $13,168,995 over the last quarter. Company insiders own 1.02% of the company’s stock.

Several research firms recently issued reports on CL. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Macquarie upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price for the company in a research note on Tuesday, December 19th. Deutsche Bank began coverage on shares of Colgate-Palmolive in a research note on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price for the company. Societe Generale cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 target price for the company. in a research note on Wednesday, November 29th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Saturday, November 25th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.33.

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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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