Colgate-Palmolive (NYSE:CL) Shares Sold by Azimuth Capital Management LLC

Azimuth Capital Management LLC lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,240 shares of the company’s stock after selling 2,443 shares during the period. Azimuth Capital Management LLC’s holdings in Colgate-Palmolive were worth $4,895,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CL. BlackRock Inc. boosted its stake in Colgate-Palmolive by 6.7% during the 3rd quarter. BlackRock Inc. now owns 60,060,209 shares of the company’s stock worth $4,633,644,000 after purchasing an additional 3,752,328 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Colgate-Palmolive by 63.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,463,837 shares of the company’s stock worth $112,935,000 after acquiring an additional 566,500 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Colgate-Palmolive by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,764,951 shares of the company’s stock worth $286,965,000 after acquiring an additional 462,211 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Colgate-Palmolive by 176.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 710,436 shares of the company’s stock worth $53,608,000 after acquiring an additional 453,363 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Colgate-Palmolive by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 18,645,998 shares of the company’s stock worth $1,594,421,000 after acquiring an additional 408,068 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

In other news, Director Michael B. Polk sold 4,835 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $79.25, for a total transaction of $383,173.75. Following the completion of the sale, the director now directly owns 23,090 shares in the company, valued at $1,829,882.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 2,961 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $77.30, for a total transaction of $228,885.30. Following the sale, the chief executive officer now owns 203,464 shares of the company’s stock, valued at $15,727,767.20. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock valued at $2,418,650 over the last 90 days. 0.78% of the stock is currently owned by insiders.

CL has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Colgate-Palmolive in a research note on Monday, December 7th. They issued an “underweight” rating and a $80.00 target price for the company. Credit Suisse Group upgraded shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $80.00 in a research note on Monday, February 1st. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a research note on Tuesday, January 19th. They issued an “underperform” rating and a $77.00 price objective for the company. Berenberg Bank upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Tuesday, January 26th. Finally, Royal Bank of Canada cut shares of Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 price objective for the company. in a research note on Monday, January 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.91.

NYSE:CL traded up $0.54 during mid-day trading on Tuesday, hitting $77.81. 126,321 shares of the company’s stock traded hands, compared to its average volume of 4,843,766. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.62 and a current ratio of 0.97. The firm’s 50 day simple moving average is $79.87 and its 200 day simple moving average is $80.52. Colgate-Palmolive has a 1 year low of $58.49 and a 1 year high of $86.41. The company has a market cap of $66.70 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 3.83 and a beta of 0.59.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, January 28th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that Colgate-Palmolive will post 3.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Monday, January 25th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, January 22nd. This represents a $1.76 annualized dividend and a yield of 2.26%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 62.19%.

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. The Oral, Personal and Home Care segment products include 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 similar items.

Read More: What is a good rate of return for a mutual fund?

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).

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

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.