Canandaigua National Bank & Trust Co. lowered its position in Colgate-Palmolive (NYSE:CL) by 6.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,692 shares of the company’s stock after selling 1,254 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $1,340,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Delta Asset Management LLC TN raised its position in shares of Colgate-Palmolive by 10.7% during the 4th quarter. Delta Asset Management LLC TN now owns 7,516 shares of the company’s stock worth $568,000 after purchasing an additional 725 shares during the last quarter. Cornerstone Financial Partners LLC raised its position in shares of Colgate-Palmolive by 19.0% during the 4th quarter. Cornerstone Financial Partners LLC now owns 4,561 shares of the company’s stock worth $344,000 after purchasing an additional 728 shares during the last quarter. Elkhorn Investments LLC raised its position in shares of Colgate-Palmolive by 4.5% during the 4th quarter. Elkhorn Investments LLC now owns 17,429 shares of the company’s stock worth $1,246,000 after purchasing an additional 743 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Colgate-Palmolive by 3.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 23,742 shares of the company’s stock worth $1,730,000 after purchasing an additional 745 shares during the last quarter. Finally, Country Club Trust Company n.a. raised its position in shares of Colgate-Palmolive by 10.6% during the 4th quarter. Country Club Trust Company n.a. now owns 7,875 shares of the company’s stock worth $594,000 after purchasing an additional 753 shares during the last quarter. Institutional investors and hedge funds own 73.30% of the company’s stock.
In other news, SVP John J. Huston sold 16,079 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $62.32, for a total value of $1,002,043.28. Following the completion of the sale, the senior vice president now owns 84,512 shares of the company’s stock, valued at approximately $5,266,787.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel B. Marsili sold 5,692 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $70.19, for a total transaction of $399,521.48. Following the completion of the sale, the insider now directly owns 41,677 shares of the company’s stock, valued at approximately $2,925,308.63. The disclosure for this sale can be found here. In the last three months, insiders sold 147,771 shares of company stock valued at $9,381,205. Corporate insiders own 1.02% of the company’s stock.
Shares of Colgate-Palmolive opened at $62.25 on Tuesday, according to MarketBeat Ratings. Colgate-Palmolive has a 12-month low of $61.28 and a 12-month high of $77.91. The stock has a market cap of $54.28 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.75. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.08 and a quick ratio of 0.75.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 13.30% and a return on equity of 1,486.69%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company earned $0.67 EPS. Colgate-Palmolive’s revenue was up 6.4% compared to the same quarter last year. equities analysts forecast that Colgate-Palmolive will post 3.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th were paid a $0.42 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 19th. This represents a $1.68 annualized dividend and a dividend yield of 2.70%. Colgate-Palmolive’s dividend payout ratio is 58.54%.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Citigroup reduced their price target on shares of Colgate-Palmolive from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Tuesday, May 1st. Barclays set a $70.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Monday, April 30th. Morgan Stanley cut shares of Colgate-Palmolive from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, April 18th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $76.75.
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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