Bp Plc decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,000 shares of the company’s stock after selling 4,000 shares during the quarter. Bp Plc’s holdings in Colgate-Palmolive were worth $7,029,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new position in Colgate-Palmolive in the second quarter valued at $111,000. Bridgeworth LLC purchased a new position in Colgate-Palmolive in the second quarter valued at $120,000. Price Capital Management Inc. purchased a new position in Colgate-Palmolive in the third quarter valued at $121,000. Fort L.P. purchased a new position in Colgate-Palmolive in the second quarter valued at $123,000. Finally, O Brien Wealth Partners LLC purchased a new position in Colgate-Palmolive in the third quarter valued at $123,000. 75.08% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on CL shares. Argus reiterated a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. JPMorgan Chase & Co. downgraded Colgate-Palmolive from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $61.00 to $54.00 in a report on Monday, October 29th. UBS Group raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $75.00 in a report on Wednesday, July 18th. Finally, Atlantic Securities began coverage on Colgate-Palmolive in a report on Thursday, September 20th. They set a “neutral” rating and a $71.00 price target for the company. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $68.06.
In related news, insider Mukul Deoras sold 11,334 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $65.10, for a total value of $737,843.40. Following the transaction, the insider now owns 32,625 shares in the company, valued at approximately $2,123,887.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Huston sold 19,774 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $65.56, for a total value of $1,296,383.44. Following the completion of the transaction, the senior vice president now owns 97,300 shares in the company, valued at approximately $6,378,988. The disclosure for this sale can be found here. Insiders sold a total of 169,585 shares of company stock worth $11,132,140 in the last 90 days. 1.02% of the stock is currently owned by insiders.
Colgate-Palmolive stock opened at $60.23 on Tuesday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $77.91. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 64.85. The stock has a market capitalization of $52.29 billion, a PE ratio of 20.99, a PEG ratio of 2.96 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.73 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive will post 2.96 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 issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s payout ratio is currently 58.54%.
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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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