Montag & Caldwell LLC Sells 1,400 Shares of Colgate-Palmolive (NYSE:CL)

Montag & Caldwell LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 25.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the company’s stock after selling 1,400 shares during the quarter. Montag & Caldwell LLC’s holdings in Colgate-Palmolive were worth $287,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Horizon Investments LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter worth $211,000. BB&T Corp lifted its position in shares of Colgate-Palmolive by 1.2% during the 1st quarter. BB&T Corp now owns 274,086 shares of the company’s stock worth $18,786,000 after buying an additional 3,129 shares during the last quarter. Strs Ohio lifted its position in shares of Colgate-Palmolive by 1.9% during the 1st quarter. Strs Ohio now owns 415,958 shares of the company’s stock worth $28,509,000 after buying an additional 7,713 shares during the last quarter. Clarius Group LLC acquired a new position in Colgate-Palmolive in the 1st quarter worth about $306,000. Finally, Investec Asset Management North America Inc. increased its holdings in Colgate-Palmolive by 12.4% in the 2nd quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock worth $633,000 after purchasing an additional 972 shares in the last quarter. Institutional investors and hedge funds own 75.64% of the company’s stock.

In other news, SVP John J. Huston sold 473 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $72.93, for a total value of $34,495.89. Following the completion of the sale, the senior vice president now owns 59,668 shares of the company’s stock, valued at $4,351,587.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Henning I. Jakobsen sold 33,854 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total value of $2,486,576.30. Following the completion of the sale, the chief financial officer now directly owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The disclosure for this sale can be found here. In the last three months, insiders sold 491,294 shares of company stock valued at $35,342,943. Insiders own 1.14% of the company’s stock.

A number of equities analysts have issued reports on the company. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a report on Friday, July 12th. Wells Fargo & Co upped their target price on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Jefferies Financial Group upped their target price on Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Colgate-Palmolive from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $62.00 to $70.00 in a report on Monday, April 29th. Finally, ValuEngine cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.13.

Shares of CL stock traded up $0.84 on Thursday, hitting $71.37. The company had a trading volume of 1,256,747 shares, compared to its average volume of 3,770,068. The stock has a market cap of $60.70 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 4.55 and a beta of 0.76. The company’s 50-day moving average price is $72.58. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.78 and a current ratio of 1.13. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.41%. Colgate-Palmolive’s payout ratio is 57.91%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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

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