BlackRock Inc. decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 1.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 50,793,069 shares of the company’s stock after selling 536,297 shares during the period. BlackRock Inc. owned 5.77% of Colgate-Palmolive worth $3,765,291,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its position in shares of Colgate-Palmolive by 2.3% in the second quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock worth $362,580,000 after acquiring an additional 108,850 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Colgate-Palmolive by 3.7% in the second quarter. TIAA CREF Investment Management LLC now owns 4,725,042 shares of the company’s stock worth $350,267,000 after acquiring an additional 170,053 shares in the last quarter. Fiera Capital Corp increased its position in shares of Colgate-Palmolive by 17.3% in the second quarter. Fiera Capital Corp now owns 4,595,453 shares of the company’s stock worth $340,662,000 after acquiring an additional 677,657 shares in the last quarter. Legal & General Group Plc increased its position in shares of Colgate-Palmolive by 2.2% in the second quarter. Legal & General Group Plc now owns 4,390,317 shares of the company’s stock worth $325,461,000 after acquiring an additional 96,427 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Colgate-Palmolive by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,474,194 shares of the company’s stock worth $254,277,000 after acquiring an additional 39,843 shares in the last quarter. 72.96% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CL. Societe Generale lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective for the company. in a research report on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup lowered their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.04.
Colgate-Palmolive (NYSE:CL) traded up $1.48 during trading on Monday, hitting $74.52. 3,615,784 shares of the stock were exchanged, compared to its average volume of 3,610,520. 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 has a one year low of $63.43 and a one year high of $77.27. The company has a market cap of $65,440.00, a P/E ratio of 25.45, a P/E/G ratio of 3.34 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results 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 company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. equities analysts expect that Colgate-Palmolive will post 2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were given a $0.40 dividend. The ex-dividend date was Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.15%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
In other Colgate-Palmolive news, CMO Mukul Deoras sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the transaction, the chief marketing officer now owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,673 shares of company stock worth $12,629,293. 1.02% of the stock is currently owned by 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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