Port Capital LLC Reduces Stock Holdings in Colgate-Palmolive (NYSE:CL)

Port Capital LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,429 shares of the company’s stock after selling 14,754 shares during the period. Port Capital LLC’s holdings in Colgate-Palmolive were worth $7,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CL. Main Street Research LLC lifted its holdings in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after acquiring an additional 100 shares during the last quarter. Advisor OS LLC boosted its position in shares of Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after buying an additional 101 shares during the period. BLB&B Advisors LLC grew its stake in shares of Colgate-Palmolive by 2.5% in the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after buying an additional 104 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after buying an additional 108 shares during the period. Finally, ZWJ Investment Counsel Inc. lifted its stake in Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after acquiring an additional 109 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. TD Cowen decreased their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL opened at $94.61 on Wednesday. The company’s 50 day simple moving average is $97.07 and its 200-day simple moving average is $98.66. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The firm has a market cap of $77.30 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.37% of the company’s stock.

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.