Colgate-Palmolive (CL) Position Reduced by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its holdings in Colgate-Palmolive (NYSE:CL) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,330 shares of the company’s stock after selling 1,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Colgate-Palmolive were worth $4,957,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock worth $1,363,050,000 after purchasing an additional 223,814 shares during the last quarter. Man Group plc grew its holdings in shares of Colgate-Palmolive by 110.5% during the third quarter. Man Group plc now owns 160,303 shares of the company’s stock worth $10,732,000 after purchasing an additional 84,136 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 5.1% during the third quarter. Advisors Asset Management Inc. now owns 177,270 shares of the company’s stock worth $11,868,000 after purchasing an additional 8,618 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Colgate-Palmolive by 2.0% during the third quarter. Brown Brothers Harriman & Co. now owns 85,679 shares of the company’s stock worth $5,736,000 after purchasing an additional 1,684 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 47.8% during the third quarter. AQR Capital Management LLC now owns 1,366,184 shares of the company’s stock worth $91,466,000 after purchasing an additional 441,603 shares during the last quarter. 76.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CL opened at $69.04 on Wednesday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.61. The stock has a market cap of $59.36 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 4.51 and a beta of 0.79. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.14 and a quick ratio of 0.76.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive will post 2.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, April 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.49%. Colgate-Palmolive’s dividend payout ratio is 56.57%.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co reaffirmed a “hold” rating and set a $57.00 price objective on shares of Colgate-Palmolive in a report on Thursday, January 31st. Evercore ISI assumed coverage on Colgate-Palmolive in a report on Thursday, January 10th. They set an “outperform” rating and a $70.00 price objective on the stock. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, March 19th. Finally, Credit Suisse Group assumed coverage on Colgate-Palmolive in a report on Wednesday, March 6th. They set an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $65.73.

In related news, CFO Henning I. Jakobsen sold 969 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $64,331.91. Following the completion of the sale, the chief financial officer now owns 35,208 shares in the company, valued at $2,337,459.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John T. Cahill sold 5,780 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $64.46, for a total transaction of $372,578.80. Following the completion of the sale, the director now owns 27,820 shares of the company’s stock, valued at approximately $1,793,277.20. The disclosure for this sale can be found here. Insiders have sold 85,450 shares of company stock valued at $5,682,621 in the last quarter. Insiders own 1.14% of the company’s stock.

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About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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