Colgate-Palmolive Company (NYSE:CL) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its holdings in Colgate-Palmolive Company by 59.5% in the first quarter, owning 88,473 shares valued at approximately $8.29 million after the sale.
• Colgate-Palmolive's latest quarterly earnings report showed a profit of $0.92 per share, exceeding analyst expectations, with a 1.0% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized yield of 2.5%, with a payout ratio of 58.43%.

Bank of Nova Scotia lessened its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 59.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,473 shares of the company's stock after selling 129,832 shares during the period. Bank of Nova Scotia's holdings in Colgate-Palmolive were worth $8,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new position in Colgate-Palmolive in the 1st quarter valued at approximately $285,000. Vision Capital Management Inc. purchased a new position in Colgate-Palmolive in the 1st quarter valued at approximately $322,000. Autumn Glory Partners LLC boosted its position in Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after buying an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Colgate-Palmolive in the 1st quarter valued at approximately $2,166,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Colgate-Palmolive by 10.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock valued at $2,974,000 after purchasing an additional 3,187 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday. Finally, Barclays increased their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $98.92.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE:CL opened at $83.33 on Tuesday. The stock has a market cap of $67.53 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.31 and a beta of 0.35. The firm has a fifty day moving average price of $89.40 and a 200 day moving average price of $90.27. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.43 and a quick ratio of 0.28. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

Colgate-Palmolive Profile

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.

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