Essex Financial Services Inc. cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 51.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,353 shares of the company’s stock after selling 11,162 shares during the quarter. Essex Financial Services Inc.’s holdings in Colgate-Palmolive were worth $767,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock valued at $1,377,537,000 after buying an additional 169,798 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Colgate-Palmolive by 2.3% during the second quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock valued at $362,580,000 after purchasing an additional 108,850 shares during the period. TIAA CREF Investment Management LLC lifted its position in Colgate-Palmolive by 84.2% during the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after purchasing an additional 2,082,262 shares during the period. Legal & General Group Plc lifted its position in Colgate-Palmolive by 2.2% during the second quarter. Legal & General Group Plc now owns 4,390,317 shares of the company’s stock valued at $325,461,000 after purchasing an additional 96,427 shares during the period. Finally, Swiss National Bank lifted its position in Colgate-Palmolive by 22.2% during the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after purchasing an additional 666,400 shares during the period. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Company (NYSE:CL) traded up $0.30 during midday trading on Friday, reaching $73.21. 2,523,600 shares of the company traded hands, compared to its average volume of 3,635,420. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The stock has a market cap of $64,022.66, a PE ratio of 25.40, a PEG ratio of 3.34 and a beta of 0.80. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.73 EPS. Colgate-Palmolive’s revenue was up 2.8% compared to the same quarter last year. research analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
A number of research analysts recently issued reports on the stock. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group LLC restated a “hold” rating and set a $79.00 target price (up from $77.00) on shares of Colgate-Palmolive in a research report on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.67.
In other news, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the sale, the director now owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the sale, the insider now directly owns 53,173 shares of the company’s stock, valued at approximately $3,799,210.85. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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