Epoch Investment Partners Inc. Reduces Stake in Colgate-Palmolive (CL)

Epoch Investment Partners Inc. lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 5.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 191,530 shares of the company’s stock after selling 12,087 shares during the period. Epoch Investment Partners Inc.’s holdings in Colgate-Palmolive were worth $11,400,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CL. BlackRock Inc. raised its stake in Colgate-Palmolive by 13.5% in the fourth quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock valued at $3,609,804,000 after purchasing an additional 7,236,342 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Colgate-Palmolive by 5,779.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,625,533 shares of the company’s stock valued at $95,000 after purchasing an additional 5,529,852 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $71,576,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Colgate-Palmolive by 405.4% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,283,928 shares of the company’s stock valued at $76,419,000 after purchasing an additional 1,029,873 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Colgate-Palmolive by 3.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock valued at $1,935,674,000 after purchasing an additional 1,000,161 shares in the last quarter. 75.02% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently commented on CL. BNP Paribas raised Colgate-Palmolive from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $56.00 to $67.00 in a research note on Monday, February 11th. Credit Suisse Group began coverage on Colgate-Palmolive in a research note on Wednesday, March 6th. They issued an “underperform” rating for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $61.00 price target on shares of Colgate-Palmolive in a research note on Friday, February 1st. Zacks Investment Research raised Colgate-Palmolive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $57.00 price target on shares of Colgate-Palmolive in a research note on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $65.13.

Shares of NYSE CL opened at $66.25 on Friday. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.14 and a quick ratio of 0.76. The stock has a market cap of $57.32 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 4.25 and a beta of 0.78. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $72.61.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 25th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.78 billion. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 2.60%. Colgate-Palmolive’s payout ratio is presently 56.57%.

In other Colgate-Palmolive news, SVP John J. Huston sold 1,512 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.29, for a total transaction of $100,230.48. Following the completion of the transaction, the senior vice president now owns 75,180 shares of the company’s stock, valued at $4,983,682.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill sold 5,780 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $64.46, for a total value of $372,578.80. Following the sale, the director now owns 27,820 shares in the company, valued at $1,793,277.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,700 shares of company stock valued at $3,419,284. Insiders own 1.02% of the company’s stock.

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About Colgate-Palmolive

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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