FTB Advisors Inc. Has $971,000 Holdings in Colgate-Palmolive (CL)

FTB Advisors Inc. lessened its holdings in Colgate-Palmolive (NYSE:CL) by 3.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,166 shares of the company’s stock after selling 530 shares during the period. FTB Advisors Inc.’s holdings in Colgate-Palmolive were worth $971,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CL. Norges Bank purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $488,436,000. BlackRock Inc. grew its position in shares of Colgate-Palmolive by 13.5% during 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 grew its position in shares of Colgate-Palmolive by 5,779.5% during 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 purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Colgate-Palmolive by 405.4% during 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. Institutional investors and hedge funds own 75.95% of the company’s stock.

NYSE CL remained flat at $$71.53 during trading on Wednesday. 3,791,995 shares of the company’s stock traded hands, compared to its average volume of 3,712,241. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $73.10. The company has a market capitalization of $61.79 billion, a P/E ratio of 24.08, a P/E/G ratio of 4.72 and a beta of 0.81.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s payout ratio is currently 57.91%.

In related news, Director Stephen I. Sadove sold 8,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $71.55, for a total transaction of $572,400.00. Following the transaction, the director now directly owns 39,441 shares of the company’s stock, valued at $2,822,003.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Philip G. Shotts sold 8,800 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $71.66, for a total transaction of $630,608.00. Following the transaction, the vice president now directly owns 50,032 shares in the company, valued at $3,585,293.12. The disclosure for this sale can be found here. Insiders have sold 335,211 shares of company stock valued at $23,724,495 in the last ninety days. Insiders own 1.14% of the company’s stock.

A number of brokerages have recently weighed in on CL. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Wednesday, May 1st. ValuEngine raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Macquarie increased their price target on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Jefferies Financial Group increased their price target on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $69.69.

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Colgate-Palmolive Profile

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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