Massachusetts Financial Services Co. MA Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Massachusetts Financial Services Co. MA trimmed its position in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,224,248 shares of the company’s stock after selling 5,990,097 shares during the quarter. Colgate-Palmolive comprises about 0.8% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 26th largest holding. Massachusetts Financial Services Co. MA owned approximately 4.06% of Colgate-Palmolive worth $2,920,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Avantax Planning Partners Inc. lifted its stake in Colgate-Palmolive by 1.3% during the fourth quarter. Avantax Planning Partners Inc. now owns 9,719 shares of the company’s stock worth $829,000 after purchasing an additional 129 shares during the last quarter. Meridian Wealth Management LLC increased its position in Colgate-Palmolive by 3.4% during the fourth quarter. Meridian Wealth Management LLC now owns 3,946 shares of the company’s stock worth $337,000 after buying an additional 131 shares during the period. Somerset Trust Co increased its position in Colgate-Palmolive by 0.5% during the fourth quarter. Somerset Trust Co now owns 25,737 shares of the company’s stock worth $2,196,000 after buying an additional 132 shares during the period. Grimes & Company Inc. increased its position in Colgate-Palmolive by 1.0% during the fourth quarter. Grimes & Company Inc. now owns 13,098 shares of the company’s stock worth $1,118,000 after buying an additional 135 shares during the period. Finally, Coastal Bridge Advisors LLC increased its position in Colgate-Palmolive by 1.8% during the third quarter. Coastal Bridge Advisors LLC now owns 7,974 shares of the company’s stock worth $603,000 after buying an additional 138 shares during the period. 78.12% of the stock is owned by institutional investors and hedge funds.

In other news, Director John P. Bilbrey sold 4,917 shares of the company’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $78.66, for a total value of $386,771.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Panagiotis Tsourapas sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $81.00, for a total value of $2,025,000.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Several research firms have commented on CL. Morgan Stanley lifted their price target on Colgate-Palmolive from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday, January 31st. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Colgate-Palmolive from $91.00 to $88.00 in a report on Monday, May 2nd. Atlantic Securities lowered Colgate-Palmolive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $80.00 in a report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $86.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, March 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.56.

CL stock traded down $1.00 on Tuesday, reaching $76.67. 6,026,815 shares of the company’s stock were exchanged, compared to its average volume of 5,611,226. The stock has a fifty day moving average of $77.26 and a 200-day moving average of $79.12. Colgate-Palmolive has a twelve month low of $72.20 and a twelve month high of $85.61. The firm has a market cap of $64.25 billion, a PE ratio of 31.72, a P/E/G ratio of 5.14 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 10.42.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its earnings results on Friday, April 29th. The company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. Colgate-Palmolive’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts predict that Colgate-Palmolive will post 3.08 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has authorized a stock buyback program on Thursday, March 10th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Thursday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 20th. Colgate-Palmolive’s payout ratio is presently 77.69%.

About Colgate-Palmolive (Get Rating)

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. 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.

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

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