Dowling & Yahnke LLC Trims Stake in Colgate-Palmolive (CL)

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Dowling & Yahnke LLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 59,943 shares of the company’s stock after selling 2,058 shares during the quarter. Dowling & Yahnke LLC’s holdings in Colgate-Palmolive were worth $4,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. CSat Investment Advisory L.P. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $111,000. Bridgeworth LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $120,000. Price Capital Management Inc. acquired a new stake in shares of Colgate-Palmolive in the third quarter worth $121,000. Fort L.P. acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $123,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter worth $123,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CL opened at $60.19 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 64.85. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $77.91. The firm has a market cap of $51.67 billion, a P/E ratio of 20.97, a PEG ratio of 2.66 and a beta of 0.72.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.73 earnings per share. Colgate-Palmolive’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive will post 2.96 earnings per share for the current year.

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. Colgate-Palmolive’s dividend payout ratio is 58.54%.

In related news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the sale, the insider now directly owns 202,414 shares in the company, valued at $13,302,648.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Philip G. Shotts sold 462 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $30,977.10. Following the sale, the vice president now owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,654 shares of company stock valued at $20,090,369. 1.02% of the stock is owned by corporate insiders.

Several analysts have recently commented on CL shares. Argus reaffirmed a “buy” rating and issued a $75.00 target price (up previously from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. UBS Group raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.00 to $75.00 in a research report on Wednesday, July 18th. JPMorgan Chase & Co. cut Colgate-Palmolive from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $61.00 to $54.00 in a research report on Monday. Finally, Atlantic Securities started coverage on Colgate-Palmolive in a research report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.06.

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.

Further Reading: Intrinsic Value and Stock Selection

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).

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

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