Griffin Asset Management Inc. Increases Position in Colgate-Palmolive (NYSE:CL)

Griffin Asset Management Inc. raised its position in Colgate-Palmolive (NYSE:CLGet Rating) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,875 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Griffin Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CL. BlackRock Inc. increased its holdings in Colgate-Palmolive by 8.4% in the fourth quarter. BlackRock Inc. now owns 65,218,485 shares of the company’s stock valued at $5,565,745,000 after buying an additional 5,039,853 shares during the last quarter. State Street Corp increased its holdings in Colgate-Palmolive by 1.6% in the fourth quarter. State Street Corp now owns 49,282,107 shares of the company’s stock valued at $4,205,735,000 after buying an additional 753,469 shares during the last quarter. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 15,342,882 shares of the company’s stock valued at $1,306,535,000 after buying an additional 707,482 shares during the last quarter. Deutsche Bank AG increased its holdings in Colgate-Palmolive by 4.0% in the fourth quarter. Deutsche Bank AG now owns 8,093,507 shares of the company’s stock valued at $690,698,000 after buying an additional 311,952 shares during the last quarter. Finally, Norges Bank purchased a new position in Colgate-Palmolive in the fourth quarter valued at $649,161,000. 78.12% of the stock is currently owned by institutional investors.

In other news, CEO Noel R. Wallace sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $79.34, for a total transaction of $3,967,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,790 shares of the company’s stock, valued at approximately $17,596,818.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John W. Kooyman sold 19,683 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $78.49, for a total transaction of $1,544,918.67. Following the sale, the insider now owns 7,007 shares in the company, valued at approximately $549,979.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,683 shares of company stock valued at $6,297,119. 0.32% of the stock is currently owned by corporate insiders.

Several research firms recently commented on CL. Deutsche Bank Aktiengesellschaft dropped their target price on Colgate-Palmolive from $91.00 to $88.00 in a report on Monday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $86.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, March 30th. Atlantic Securities downgraded shares of Colgate-Palmolive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research note on Tuesday, May 3rd. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, The Goldman Sachs Group decreased their target price on shares of Colgate-Palmolive from $104.00 to $95.00 in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.71.

Shares of Colgate-Palmolive stock opened at $77.91 on Thursday. Colgate-Palmolive has a 12-month low of $72.20 and a 12-month high of $85.61. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42. The stock has a market cap of $65.28 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 5.16 and a beta of 0.56. The company has a 50-day moving average of $77.83 and a two-hundred day moving average of $79.10.

Colgate-Palmolive (NYSE:CLGet Rating) last issued its earnings results on Friday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. Colgate-Palmolive had a net margin of 11.70% and a return on equity of 296.77%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.05 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 10th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 77.69%.

Colgate-Palmolive Company Profile (Get Rating)

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 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.

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

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