Intact Investment Management Inc. Reduces Position in Colgate-Palmolive (CL)

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Intact Investment Management Inc. lowered its position in Colgate-Palmolive (NYSE:CL) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,400 shares of the company’s stock after selling 1,100 shares during the period. Intact Investment Management Inc.’s holdings in Colgate-Palmolive were worth $5,449,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. acquired a new position in Colgate-Palmolive in the second quarter worth approximately $111,000. Price Capital Management Inc. acquired a new position in Colgate-Palmolive in the third quarter worth approximately $121,000. O Brien Wealth Partners LLC acquired a new position in Colgate-Palmolive in the third quarter worth approximately $123,000. Bridgeworth LLC acquired a new position in Colgate-Palmolive in the second quarter worth approximately $120,000. Finally, Fort L.P. acquired a new position in Colgate-Palmolive in the second quarter worth approximately $123,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

In related news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total value of $7,886,400.00. Following the completion of the transaction, the insider now directly owns 202,414 shares of the company’s stock, valued at $13,302,648.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 462 shares of Colgate-Palmolive stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $30,977.10. Following the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The disclosure for this sale can be found here. Insiders sold 395,779 shares of company stock valued at $26,108,856 over the last three months. 1.02% of the stock is owned by company insiders.

Several equities analysts have commented on the company. Barclays set a $64.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, July 30th. Citigroup set a $63.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday. Wells Fargo & Co lowered their price target on Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Monday. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. downgraded Colgate-Palmolive from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $61.00 to $54.00 in a report on Monday. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $68.81.

CL opened at $57.88 on Tuesday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The company has a debt-to-equity ratio of 64.85, a current ratio of 0.40 and a quick ratio of 0.28. The company has a market capitalization of $51.70 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business earned $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive will post 2.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a $0.42 dividend. The ex-dividend date is Thursday, October 18th. This represents a $1.68 annualized dividend and a dividend yield of 2.90%. Colgate-Palmolive’s dividend payout ratio is 58.54%.

Colgate-Palmolive Profile

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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