Bank of Nova Scotia Sells 372,628 Shares of Colgate-Palmolive Company $CL

Bank of Nova Scotia decreased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 76.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,437 shares of the company's stock after selling 372,628 shares during the quarter. Bank of Nova Scotia's holdings in Colgate-Palmolive were worth $9,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock valued at $37,110,000 after purchasing an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of Colgate-Palmolive by 7.4% in the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock worth $15,881,000 after buying an additional 13,804 shares during the last quarter. Caprock Group LLC grew its position in Colgate-Palmolive by 116.5% during the fourth quarter. Caprock Group LLC now owns 64,808 shares of the company's stock valued at $5,121,000 after buying an additional 34,879 shares during the period. First Eagle Investment Management LLC increased its holdings in Colgate-Palmolive by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company's stock valued at $625,758,000 after buying an additional 29,876 shares during the last quarter. Finally, SEB Asset Management AB purchased a new stake in Colgate-Palmolive during the first quarter valued at approximately $91,149,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $90.74 on Monday. The stock's 50-day simple moving average is $90.77 and its 200-day simple moving average is $89.05. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market capitalization of $72.61 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 4.78 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 82.49%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a "buy" rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $96.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Citigroup boosted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Barclays upped their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.82.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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