Centaurus Financial Inc. lifted its position in Colgate-Palmolive (NYSE:CL) by 147.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,262 shares of the company’s stock after purchasing an additional 4,924 shares during the quarter. Centaurus Financial Inc.’s holdings in Colgate-Palmolive were worth $535,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rainier Group Investment Advisory LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $107,000. Centerpoint Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $112,000. Quadrant Capital Group LLC lifted its stake in shares of Colgate-Palmolive by 142.4% in the 1st quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock valued at $108,000 after acquiring an additional 941 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $111,000. Finally, Bridgeworth LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $120,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.
Shares of NYSE:CL opened at $68.81 on Tuesday. Colgate-Palmolive has a 52-week low of $61.28 and a 52-week high of $77.91. The company has a market capitalization of $58.99 billion, a PE ratio of 23.98, a PEG ratio of 3.04 and a beta of 0.72. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. equities research analysts forecast that Colgate-Palmolive will post 3.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
Colgate-Palmolive announced that its board has authorized a stock repurchase program on Monday, June 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 21st. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Stifel Nicolaus lowered their price target on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, July 23rd. Citigroup lowered their price target on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, July 31st. Finally, Barclays set a $64.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $72.14.
In other news, insider Daniel B. Marsili sold 19,500 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $65.40, for a total value of $1,275,300.00. Following the completion of the transaction, the insider now owns 78,065 shares of the company’s stock, valued at approximately $5,105,451. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mukul Deoras sold 11,334 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $65.10, for a total value of $737,843.40. Following the completion of the transaction, the insider now directly owns 32,625 shares of the company’s stock, valued at approximately $2,123,887.50. The disclosure for this sale can be found here. Insiders sold a total of 415,279 shares of company stock valued at $27,384,156 in the last three months. Corporate insiders own 1.02% of the company’s stock.
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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