Bray Capital Advisors Has $73,000 Holdings in Colgate-Palmolive (CL)

Bray Capital Advisors cut its stake in Colgate-Palmolive (NYSE:CL) by 86.3% in the first quarter, HoldingsChannel.com reports. The fund owned 1,070 shares of the company’s stock after selling 6,722 shares during the period. Bray Capital Advisors’ holdings in Colgate-Palmolive were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $488,436,000. BlackRock Inc. increased its position in shares of 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 buying an additional 7,236,342 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of 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 buying an additional 5,529,852 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of 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 buying an additional 1,029,873 shares in the last quarter. 75.99% of the stock is owned by institutional investors.

Shares of CL opened at $71.69 on Tuesday. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74. Colgate-Palmolive has a one year low of $57.41 and a one year high of $72.85. The company has a market cap of $61.77 billion, a P/E ratio of 24.14, a PEG ratio of 4.72 and a beta of 0.81.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.40%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, April 17th. Colgate-Palmolive’s payout ratio is presently 57.91%.

A number of analysts have recently commented on CL shares. Goldman Sachs Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 8th. BNP Paribas upgraded Colgate-Palmolive from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $67.00 in a research report on Monday, February 11th. Jefferies Financial Group restated a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a research report on Friday, February 1st. Evercore ISI started coverage on Colgate-Palmolive in a research report on Thursday, January 10th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Morgan Stanley set a $62.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $69.81.

In other Colgate-Palmolive news, Vice Chairman Dennis J. Hickey sold 6,060 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $66.37, for a total value of $402,202.20. Following the completion of the sale, the insider now directly owns 407,294 shares in the company, valued at approximately $27,032,102.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ian M. Cook sold 22,634 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.31, for a total value of $1,500,860.54. Following the completion of the sale, the chief executive officer now owns 1,162,793 shares of the company’s stock, valued at $77,104,803.83. The disclosure for this sale can be found here. Insiders have sold 246,149 shares of company stock valued at $17,203,908 over the last quarter. 1.14% of the stock is owned by company insiders.

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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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