Gulf International Bank UK Ltd Cuts Stake in Colgate-Palmolive (NYSE:CL)

Gulf International Bank UK Ltd lessened its stake in Colgate-Palmolive (NYSE:CL) by 28.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,409 shares of the company’s stock after selling 24,956 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Colgate-Palmolive were worth $6,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares during the period. Legal & General Group Plc boosted its holdings in Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after acquiring an additional 61,413 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd boosted its stake in shares of Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after purchasing an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the period. Institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Price Performance

CL opened at $93.61 on Tuesday. The company has a market capitalization of $76.48 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.33 and a beta of 0.42. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12-month low of $74.67 and a 12-month high of $109.30. The business’s fifty day simple moving average is $102.03 and its 200-day simple moving average is $98.40.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. TD Cowen lowered their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, Wells Fargo & Company lowered their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.11.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.