Destination Wealth Management grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,214 shares of the company’s stock after acquiring an additional 6,104 shares during the period. Destination Wealth Management’s holdings in Colgate-Palmolive were worth $12,321,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $102,000. Proficio Capital Partners LLC grew its stake in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the period. OLD Second National Bank of Aurora acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $109,000. Harbour Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $121,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 72.96% of the company’s stock.
Colgate-Palmolive (CL) traded up $0.07 during trading on Tuesday, hitting $74.59. 3,463,178 shares of the company’s stock traded hands, compared to its average volume of 3,609,890. Colgate-Palmolive has a 1 year low of $63.43 and a 1 year high of $77.27. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. The company has a market cap of $65,180.00, a PE 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 earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the firm earned $0.73 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. sell-side analysts expect that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
CL has been the subject of several research reports. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Monday, September 25th. SunTrust Banks upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $85.00 in a research note on Wednesday, October 11th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Finally, Jefferies Group reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Two equities research analysts have 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. Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $76.04.
In related news, Director Stephen I. Sadove sold 20,780 shares of Colgate-Palmolive 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 owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria L. Dolan sold 9,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,673 shares of company stock worth $12,629,293. Insiders own 1.02% of the company’s stock.
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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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