Bank of Nova Scotia Sells 372,628 Shares of Colgate-Palmolive Company $CL

Bank of Nova Scotia reduced its position in Colgate-Palmolive Company (NYSE:CL) by 76.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 114,437 shares of the company’s stock after selling 372,628 shares during the period. Bank of Nova Scotia’s holdings in Colgate-Palmolive were worth $9,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CL. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive in the fourth quarter worth $236,682,000. Finally, Deutsche Bank AG raised its stake in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $90.74 on Monday. The stock has a market cap of $72.61 billion, a PE ratio of 35.31, a P/E/G ratio of 4.78 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a 50-day moving average price of $90.77 and a 200 day moving average price of $89.05. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Sanford C. Bernstein began coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price objective on the stock. Twelve 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.