Teacher Retirement System of Texas Lowers Stake in Colgate-Palmolive Company (CL)

Teacher Retirement System of Texas reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 238,636 shares of the company’s stock after selling 508 shares during the quarter. Teacher Retirement System of Texas’ holdings in Colgate-Palmolive were worth $17,690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at approximately $102,000. Proficio Capital Partners LLC raised its holdings in Colgate-Palmolive by 16.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the period. OLD Second National Bank of Aurora purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at $109,000. Harbour Capital Advisors LLC purchased a new stake in Colgate-Palmolive during the 1st quarter valued at $121,000. Finally, Hanson & Doremus Investment Management raised its holdings in Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Several analysts recently weighed in on CL shares. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Friday, June 30th. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, July 4th. Jefferies Group LLC increased their price target on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, July 6th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.31.

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In other Colgate-Palmolive news, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the sale, the chief operating officer now owns 97,177 shares in the company, valued at approximately $7,046,304.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total value of $5,304,009.60. Following the sale, the chief financial officer now owns 484,985 shares in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,969 shares of company stock worth $15,693,933. 1.02% of the stock is owned by company insiders.

Shares of Colgate-Palmolive Company (NYSE:CL) opened at 75.16 on Friday. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a market cap of $66.20 billion, a P/E ratio of 27.93 and a beta of 0.81. The company’s 50-day moving average price is $72.26 and its 200-day moving average price is $73.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $0.70 EPS. Colgate-Palmolive’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.13%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.48%.

About Colgate-Palmolive

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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