Colonial Trust Advisors trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 21.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,041 shares of the company’s stock after selling 3,612 shares during the quarter. Colonial Trust Advisors’ holdings in Colgate-Palmolive were worth $935,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Colgate-Palmolive by 3.0% during the first quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock valued at $3,867,373,000 after purchasing an additional 1,592,608 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Colgate-Palmolive by 11.3% during the first quarter. Wells Fargo & Company MN now owns 9,886,686 shares of the company’s stock valued at $708,678,000 after purchasing an additional 1,003,612 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 8,975,479 shares of the company’s stock valued at $675,751,000 after purchasing an additional 188,455 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Colgate-Palmolive by 45.7% during the first quarter. First Eagle Investment Management LLC now owns 7,830,595 shares of the company’s stock valued at $561,297,000 after purchasing an additional 2,455,839 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of Colgate-Palmolive by 2.8% during the fourth quarter. OppenheimerFunds Inc. now owns 6,173,804 shares of the company’s stock valued at $465,813,000 after purchasing an additional 166,537 shares in the last quarter. 73.30% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Barclays set a $70.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research note on Monday, April 30th. Citigroup cut their price objective on Colgate-Palmolive from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 1st. ValuEngine lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, April 18th. Finally, Morgan Stanley lowered Colgate-Palmolive from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 30th. Four 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 company has a consensus rating of “Hold” and a consensus price target of $76.75.
In other Colgate-Palmolive news, insider Daniel B. Marsili sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $71.85, for a total value of $1,401,075.00. Following the completion of the sale, the insider now directly owns 77,935 shares in the company, valued at $5,599,629.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Franck J. Moison sold 80,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $61.75, for a total value of $4,940,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,079 shares of company stock valued at $8,981,683. 1.02% of the stock is currently owned by corporate insiders.
Shares of CL stock opened at $62.41 on Wednesday. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 1.08 and a debt-to-equity ratio of 64.85. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 27th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. research analysts anticipate that Colgate-Palmolive will post 3.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th were issued a $0.42 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, April 19th. Colgate-Palmolive’s payout ratio is presently 58.54%.
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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