KBC Group NV Decreases Stake in Colgate-Palmolive (NYSE:CL)

KBC Group NV lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 19.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 653,635 shares of the company’s stock after selling 161,372 shares during the period. KBC Group NV’s holdings in Colgate-Palmolive were worth $67,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CL. Main Street Research LLC increased its holdings in Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after buying an additional 100 shares during the period. Advisor OS LLC boosted its holdings in Colgate-Palmolive by 4.5% in the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after purchasing an additional 101 shares during the last quarter. BLB&B Advisors LLC grew its position in Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares during the period. D Orazio & Associates Inc. raised its stake in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after buying an additional 108 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its holdings in shares of Colgate-Palmolive by 3.1% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. Finally, Barclays raised their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $105.11.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.5 %

Shares of Colgate-Palmolive stock opened at $91.08 on Thursday. Colgate-Palmolive has a 1-year low of $75.17 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market cap of $74.41 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.27 and a beta of 0.42. The stock’s 50 day simple moving average is $100.30 and its 200-day simple moving average is $98.53.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Colgate-Palmolive Company Profile

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.