Harding Loevner LP lifted its position in Colgate-Palmolive (NYSE:CL) by 92.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,742,752 shares of the company’s stock after purchasing an additional 2,272,675 shares during the quarter. Harding Loevner LP owned about 0.54% of Colgate-Palmolive worth $176,329,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Colgate-Palmolive by 42.4% during the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares in the last quarter. APG Asset Management N.V. raised its position 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 valued at $296,557,000 after acquiring an additional 2,884,100 shares in the last quarter. First Eagle Investment Management LLC raised its position in Colgate-Palmolive by 35.8% during the third quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock valued at $483,837,000 after acquiring an additional 1,750,417 shares in the last quarter. Vanguard Group Inc. raised its position in Colgate-Palmolive by 2.4% during the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after acquiring an additional 1,621,392 shares in the last quarter. Finally, Swedbank purchased a new position in Colgate-Palmolive during the third quarter valued at approximately $102,014,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Shares of Colgate-Palmolive (CL) opened at $74.62 on Friday. The company has a market capitalization of $65,524.20, a P/E ratio of 26.00, a PEG ratio of 3.15 and a beta of 0.80. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92.
Colgate-Palmolive (NYSE:CL) last issued 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. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. sell-side analysts anticipate that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
CL has been the subject of several recent research reports. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group restated a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Morgan Stanley cut their price objective on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a research report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Finally, Deutsche Bank initiated coverage on Colgate-Palmolive in a research report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $76.51.
In other news, insider Victoria L. Dolan sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $73.07, for a total value of $730,700.00. Following the sale, the insider now directly owns 60,528 shares of the company’s stock, valued at $4,422,780.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Daniels sold 7,375 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total value of $539,702.50. Following the completion of the sale, the insider now directly owns 38,691 shares in the company, valued at $2,831,407.38. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock worth $13,237,385 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
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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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