First Eagle Investment Management LLC Has $875.87 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

First Eagle Investment Management LLC trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 14.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,025,827 shares of the company’s stock after selling 1,531,109 shares during the period. Colgate-Palmolive makes up about 2.0% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. First Eagle Investment Management LLC owned 1.10% of Colgate-Palmolive worth $875,866,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $225,000. Gladstone Institutional Advisory LLC increased its position in shares of Colgate-Palmolive by 35.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 7,686 shares of the company’s stock worth $613,000 after purchasing an additional 2,028 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Colgate-Palmolive by 6.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 10,529 shares of the company’s stock valued at $839,000 after purchasing an additional 653 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Colgate-Palmolive by 59.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 6,899 shares of the company’s stock valued at $549,000 after buying an additional 2,583 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Colgate-Palmolive by 21.8% during the fourth quarter. Clearbridge Investments LLC now owns 1,016,193 shares of the company’s stock worth $81,001,000 after buying an additional 181,727 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $103.17 on Thursday. The firm’s 50 day simple moving average is $102.53 and its 200 day simple moving average is $95.61. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 3.72 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period last year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Colgate-Palmolive’s payout ratio is 63.29%.

Analyst Ratings Changes

Several research analysts have recently commented on CL shares. Bank of America boosted their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BNP Paribas initiated coverage on Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price on the stock. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. Sanford C. Bernstein increased their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Finally, Evercore ISI raised their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.79.

About Colgate-Palmolive

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.