Crossmark Global Holdings Inc. Sells 14,889 Shares of Colgate-Palmolive Company $CL

Key Points

• Crossmark Global Holdings cut its Colgate-Palmolive position by 10.1% in the third quarter, selling 14,889 shares and retaining 131,819 shares valued at approximately $11.25 million.
• Colgate-Palmolive shares were trading at $97.44, up 4.3%, near their 52-week high of $99.33. Institutional investors collectively own 80.41% of the company.
• The company recently beat quarterly earnings estimates, reporting $0.99 in earnings per share versus the $0.95 consensus, and announced a quarterly dividend of $0.53 per share, representing a 2.2% yield.

Crossmark Global Holdings Inc. decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,819 shares of the company's stock after selling 14,889 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Colgate-Palmolive were worth $11,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company's stock worth $8,635,889,000 after buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after acquiring an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after acquiring an additional 88,917 shares in the last quarter. Bank of America Corp DE lifted its position in Colgate-Palmolive by 17.4% during the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company's stock valued at $565,722,000 after acquiring an additional 986,063 shares during the period. Finally, Amundi lifted its position in Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after acquiring an additional 1,033,918 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 4.3%

NYSE:CL opened at $97.44 on Friday. The company's 50 day moving average price is $89.22 and its 200-day moving average price is $89.31. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a market cap of $77.68 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 4.52 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CL shares. Citigroup boosted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. UBS Group set a $106.00 target price on shares of Colgate-Palmolive in a research note on Thursday, October 15th. Jefferies Financial Group reaffirmed a "hold" rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $103.00 to $104.00 and gave the company an "overweight" rating in a report on Monday. Finally, Weiss Ratings downgraded Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Insiders Place Their Bets

In other news, CEO Noel Wallace sold 161,021 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares of the company's stock, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Profile

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.

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