Colgate-Palmolive Company $CL Stock: AMI Asset Management Corp Trims Position

Key Points

• AMI Asset Management reduced its Colgate-Palmolive stake by 3.6% in the third quarter, selling 17,390 shares and retaining 461,735 shares valued at approximately $39.4 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue reached $5.36 billion, up 4.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.
• The company declared a quarterly dividend of $0.53 per share, equivalent to $2.12 annually and a 2.2% yield. Meanwhile, insiders sold $16.1 million worth of shares over the past quarter.

AMI Asset Management Corp lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 461,735 shares of the company's stock after selling 17,390 shares during the period. Colgate-Palmolive accounts for 2.3% of AMI Asset Management Corp's investment portfolio, making the stock its 21st largest position. AMI Asset Management Corp owned 0.06% of Colgate-Palmolive worth $39,395,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Cooper Financial Group grew its stake in shares of Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company's stock valued at $270,000 after buying an additional 114 shares during the period. Gould Capital LLC lifted its holdings in Colgate-Palmolive by 38.7% in the first quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Colgate-Palmolive by 2.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock valued at $397,000 after acquiring an additional 118 shares during the last quarter. SVB Wealth LLC lifted its holdings in Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock valued at $804,000 after acquiring an additional 119 shares during the last quarter. Finally, ANB Bank grew its position in Colgate-Palmolive by 1.7% in the first quarter. ANB Bank now owns 7,200 shares of the company's stock worth $614,000 after acquiring an additional 120 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at $5,974,137.05. This represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Up 1.2%

Colgate-Palmolive stock opened at $94.47 on Wednesday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The firm has a 50 day moving average price of $89.10 and a 200 day moving average price of $89.17. The company has a market capitalization of $75.31 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 4.52 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.92 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. Colgate-Palmolive's payout ratio is 84.13%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CL shares. Morgan Stanley reissued an "overweight" rating and set a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Weiss Ratings downgraded Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $103.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Finally, Evercore increased their price target on Colgate-Palmolive from $100.00 to $101.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.00.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill's Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill's Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.

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 Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.