Zevin Asset Management LLC lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,614 shares of the company’s stock after acquiring an additional 1,062 shares during the quarter. Colgate-Palmolive accounts for about 1.4% of Zevin Asset Management LLC’s holdings, making the stock its 28th biggest position. Zevin Asset Management LLC’s holdings in Colgate-Palmolive were worth $4,928,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Colgate-Palmolive by 11.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock valued at $2,110,235,000 after acquiring an additional 3,397,667 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Colgate-Palmolive by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock valued at $1,304,974,000 after acquiring an additional 1,596,825 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Colgate-Palmolive by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock valued at $439,801,000 after acquiring an additional 405,430 shares during the last quarter. Fiera Capital Corp raised its holdings in Colgate-Palmolive by 4.6% in the 2nd quarter. Fiera Capital Corp now owns 5,012,573 shares of the company’s stock valued at $324,865,000 after acquiring an additional 219,925 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Colgate-Palmolive by 15.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,093,312 shares of the company’s stock valued at $265,288,000 after acquiring an additional 543,500 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.
NYSE CL traded down $0.01 during trading hours on Wednesday, hitting $60.50. The company had a trading volume of 31,047 shares, compared to its average volume of 5,679,367. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $77.91. The company has a market cap of $52.29 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.96 and a beta of 0.75. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 64.85.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be issued a $0.42 dividend. The ex-dividend date is Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.78%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
Several brokerages have weighed in on CL. Argus reiterated a “buy” rating and issued a $75.00 price target (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Atlantic Securities assumed coverage on Colgate-Palmolive in a report on Thursday, September 20th. They set a “neutral” rating and a $71.00 price objective for the company. ValuEngine upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co restated a “hold” rating and set a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th. Four 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’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $68.06.
In related news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total value of $7,886,400.00. Following the completion of the sale, the insider now directly owns 202,414 shares in the company, valued at approximately $13,302,648.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John J. Huston sold 19,774 shares of the stock in a transaction on 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 sale, the senior vice president now owns 97,300 shares of the company’s stock, valued at $6,378,988. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,585 shares of company stock valued at $11,132,140. 1.02% of the stock is owned by insiders.
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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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