Neville Rodie & Shaw Inc. reduced its stake in Colgate-Palmolive (NYSE:CL) by 13.1% during the second quarter, HoldingsChannel reports. The firm owned 16,946 shares of the company’s stock after selling 2,549 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Colgate-Palmolive were worth $1,098,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CL. HC Financial Advisors Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $1,744,000. MML Investors Services LLC boosted its position in shares of Colgate-Palmolive by 10.0% in the 4th quarter. MML Investors Services LLC now owns 26,489 shares of the company’s stock worth $1,999,000 after purchasing an additional 2,402 shares in the last quarter. ETRADE Capital Management LLC boosted its position in shares of Colgate-Palmolive by 25.0% in the 4th quarter. ETRADE Capital Management LLC now owns 39,532 shares of the company’s stock worth $2,983,000 after purchasing an additional 7,913 shares in the last quarter. Matrix Asset Advisors Inc. NY bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $206,000. Finally, Security National Bank boosted its position in shares of Colgate-Palmolive by 10.2% in the 4th quarter. Security National Bank now owns 26,301 shares of the company’s stock worth $1,984,000 after purchasing an additional 2,432 shares in the last quarter. 73.17% 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 $75.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Thursday, March 15th. Sanford C. Bernstein reissued a “market perform” rating and issued a $72.00 price target on shares of Colgate-Palmolive in a research report on Thursday, May 24th. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday. Argus raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, April 18th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $75.00.
Colgate-Palmolive opened at $64.67 on Wednesday, Marketbeat Ratings reports. The company has a market capitalization of $56.33 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. Colgate-Palmolive has a 12-month low of $61.28 and a 12-month high of $77.91. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 64.85.
Colgate-Palmolive (NYSE:CL) last released 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. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. analysts forecast that Colgate-Palmolive will post 3.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, July 18th will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, July 17th. This represents a $1.68 annualized dividend and a yield of 2.60%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.
Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Monday, June 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In other Colgate-Palmolive news, Vice Chairman Franck J. Moison sold 80,000 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $61.75, for a total transaction of $4,940,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel B. Marsili sold 19,500 shares of the business’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $71.85, for a total transaction of $1,401,075.00. Following the sale, the insider now owns 77,935 shares of the company’s stock, valued at $5,599,629.75. The disclosure for this sale can be found here. Insiders sold a total of 161,579 shares of company stock worth $10,215,058 over the last ninety days. 1.02% of the stock is currently owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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