Korea Investment CORP lessened its stake in Colgate-Palmolive (NYSE:CL) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,240 shares of the company’s stock after selling 25,100 shares during the quarter. Korea Investment CORP’s holdings in Colgate-Palmolive were worth $18,449,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Colgate-Palmolive by 42.4% during the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after acquiring an additional 2,903,800 shares in the last quarter. APG Asset Management N.V. raised its stake in Colgate-Palmolive by 243.0% during the third quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock worth $296,557,000 after acquiring an additional 2,884,100 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake 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 worth $333,380,000 after acquiring an additional 2,082,262 shares in the last quarter. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 2.4% during the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after acquiring an additional 1,621,392 shares in the last quarter. Finally, Swedbank acquired a new position in Colgate-Palmolive during the third quarter worth about $102,014,000. 72.83% of the stock is owned by institutional investors and hedge funds.
In related news, Director Stephen I. Sadove sold 20,780 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was 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 $2,557,619.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Justin Skala sold 126,393 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Insiders sold 181,048 shares of company stock worth $13,168,995 over the last quarter. 1.02% of the stock is currently owned by company insiders.
Several research analysts have commented on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, October 23rd. Deutsche Bank started coverage on Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price for the company. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Finally, Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $76.51.
Colgate-Palmolive (CL) traded down $0.27 during trading hours on Thursday, hitting $74.55. The stock had a trading volume of 2,010,000 shares, compared to its average volume of 3,050,000. The company has a market capitalization of $65,460.00, a PE ratio of 28.78, a P/E/G ratio of 3.21 and a beta of 0.81. 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 52 week low of $63.43 and a 52 week high of $77.27.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the business posted $0.73 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. equities analysts forecast that Colgate-Palmolive 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 Thursday, February 15th. Investors of record on Tuesday, January 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. Colgate-Palmolive’s payout ratio is presently 61.78%.
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Colgate-Palmolive Company Profile
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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