Meadow Creek Investment Management LLC lessened its position in Colgate-Palmolive (NYSE:CL) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 114,664 shares of the company’s stock after selling 5,060 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Colgate-Palmolive were worth $8,651,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $1,814,000. The Manufacturers Life Insurance Company lifted its holdings in Colgate-Palmolive by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock worth $83,914,000 after acquiring an additional 105,878 shares during the period. Pensionfund DSM Netherlands bought a new stake in Colgate-Palmolive during the third quarter worth $4,225,000. Pictet & Cie Europe SA lifted its holdings in Colgate-Palmolive by 5.5% during the third quarter. Pictet & Cie Europe SA now owns 123,000 shares of the company’s stock worth $8,961,000 after acquiring an additional 6,400 shares during the period. Finally, Roosevelt Investment Group Inc. bought a new stake in Colgate-Palmolive during the second quarter worth $1,044,000. 73.87% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive (NYSE:CL) opened at $69.99 on Thursday. The company has a debt-to-equity ratio of 27.02, a quick ratio of 1.00 and a current ratio of 1.36. Colgate-Palmolive has a one year low of $68.19 and a one year high of $77.91. The stock has a market capitalization of $62,034.41, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.62 and a beta of 0.79.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 26th. The company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts anticipate that Colgate-Palmolive will post 3.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 19th. Colgate-Palmolive’s payout ratio is presently 70.18%.
In related news, Vice Chairman Franck J. Moison sold 142,979 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $70.09, for a total transaction of $10,021,398.11. Following the sale, the insider now directly owns 224,027 shares in the company, valued at approximately $15,702,052.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Patricia Verduin sold 1,572 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.17, for a total value of $110,307.24. Following the sale, the chief technology officer now owns 50,675 shares in the company, valued at $3,555,864.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 455,707 shares of company stock worth $32,443,427. 1.02% of the stock is currently owned by corporate insiders.
CL has been the topic of several research reports. BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Deutsche Bank initiated coverage on Colgate-Palmolive in a research note on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price on the stock. Citigroup boosted their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a research note on Saturday, November 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.91.
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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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