The Manufacturers Life Insurance Company Sells 142,646 Shares of Colgate-Palmolive Company $CL

The Manufacturers Life Insurance Company cut its stake in Colgate-Palmolive Company (NYSE:CL) by 17.5% during the second quarter, HoldingsChannel reports. The fund owned 670,877 shares of the company’s stock after selling 142,646 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Colgate-Palmolive were worth $61,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management raised its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Key Colgate-Palmolive News

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: A sale could generate cash, simplify Colgate-Palmolive’s brand portfolio and allow management to focus resources on faster-growing or higher-priority categories. The company is reportedly evaluating strategic options for some personal-care assets. Colgate-Palmolive seeks to divest some personal care brands, sources say
• Positive Sentiment: Royal Bank of Canada assigned Colgate-Palmolive an “Outperform” rating, while a separate analyst article described the company as recovering, offering some support for the stock’s longer-term investment case. Colgate-Palmolive Earns Outperform Rating from Royal Bank Of Canada
• Neutral Sentiment: Reports indicate that Goldman Sachs may be involved in exploring potential transactions, but the discussions remain preliminary and there is no announced deal or confirmed buyer. Did Colgate strike a new deal?
• Negative Sentiment: Colgate-Palmolive is reportedly considering the sale of mass-market brands including Softsoap, Irish Spring and Speed Stick. Investors may view the move as a sign that the businesses face limited growth or that management is changing its portfolio strategy, contributing to the stock’s decline. Colgate-Palmolive Stock Dips on Plan to Sell Personal Care Brands

Analyst Ratings Changes

Several equities research analysts have weighed in on CL shares. JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Wells Fargo & Company upped their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. TD Cowen raised their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Stock Down 1.4%

NYSE:CL opened at $86.68 on Friday. The company has a market cap of $69.10 billion, a PE ratio of 34.40, a P/E/G ratio of 4.10 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company’s 50 day moving average is $91.34 and its two-hundred day moving average is $89.61.

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

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated 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 sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by company insiders.

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 products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.