Great Lakes Advisors LLC grew its stake in Colgate-Palmolive Company (NYSE:CL) by 325.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,872 shares of the company’s stock after acquiring an additional 32,792 shares during the period. Great Lakes Advisors LLC’s holdings in Colgate-Palmolive were worth $3,178,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $102,000. Proficio Capital Partners LLC lifted its position in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after acquiring an additional 207 shares during the last quarter. OLD Second National Bank of Aurora acquired a new stake in Colgate-Palmolive during the second quarter worth approximately $109,000. Hanson & Doremus Investment Management lifted its position in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after acquiring an additional 70 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $121,000. Institutional investors own 73.63% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Monday, September 25th. Royal Bank of Canada reiterated a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research report on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Finally, Macquarie assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $76.67.
In other Colgate-Palmolive 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 sale, the director now directly owns 36,268 shares in the company, valued at approximately $2,557,619.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was 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 owns 53,173 shares in the company, valued at $3,799,210.85. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
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Shares of Colgate-Palmolive Company (NYSE:CL) traded up $0.30 during midday trading on Friday, hitting $73.21. 2,523,600 shares of the stock traded hands, compared to its average volume of 3,635,420. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The firm has a market capitalization of $64,022.66, a price-to-earnings ratio of 25.40, a P/E/G ratio of 3.34 and a beta of 0.80. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. sell-side analysts forecast that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
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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