Colgate-Palmolive (CL) Stake Decreased by BB&T Corp

BB&T Corp cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,388 shares of the company’s stock after selling 21,378 shares during the period. BB&T Corp’s holdings in Colgate-Palmolive were worth $17,512,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CL. Vanguard Group Inc. grew its stake in Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares in the last quarter. Renaissance Technologies LLC grew its stake in Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after purchasing an additional 2,903,800 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Colgate-Palmolive by 25.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after purchasing an additional 1,385,946 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Colgate-Palmolive by 2.3% in the second quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock worth $362,580,000 after purchasing an additional 108,850 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Colgate-Palmolive by 3.7% in the second quarter. TIAA CREF Investment Management LLC now owns 4,725,042 shares of the company’s stock worth $350,267,000 after purchasing an additional 170,053 shares in the last quarter. Institutional investors own 72.96% of the company’s stock.

In related news, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the transaction, the chief operating officer now owns 262,361 shares in the company, valued at $19,144,482.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total transaction of $730,700.00. Following the transaction, the insider now owns 60,528 shares in the company, valued at approximately $4,422,780.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,048 shares of company stock worth $13,168,995. Corporate insiders own 1.02% of the company’s stock.

Shares of Colgate-Palmolive (CL) opened at $74.05 on Monday. The firm has a market capitalization of $65,023.68, a P/E ratio of 25.80, a PEG ratio of 3.39 and a beta of 0.81. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a twelve month low of $63.43 and a twelve month high of $77.27.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. sell-side analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current year.

A number of equities analysts recently commented on CL shares. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Monday, October 23rd. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Deutsche Bank started coverage on shares of Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.04.

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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.

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

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