Somerville Kurt F lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,289 shares of the company’s stock after selling 3,181 shares during the quarter. Somerville Kurt F’s holdings in Colgate-Palmolive were worth $1,597,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CL. FMR LLC increased its position in Colgate-Palmolive by 29.1% during the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after acquiring an additional 1,665,348 shares during the period. Ronna Sue Cohen increased its position in Colgate-Palmolive by 6,221.2% during the first quarter. Ronna Sue Cohen now owns 854,749 shares of the company’s stock worth $855,000 after acquiring an additional 841,227 shares during the period. Geode Capital Management LLC increased its position in Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after acquiring an additional 768,550 shares during the period. FIL Ltd increased its position in Colgate-Palmolive by 9.6% during the first quarter. FIL Ltd now owns 7,972,928 shares of the company’s stock worth $546,465,000 after acquiring an additional 695,987 shares during the period. Finally, CIBC World Markets Inc. increased its position in Colgate-Palmolive by 834.5% during the first quarter. CIBC World Markets Inc. now owns 631,073 shares of the company’s stock worth $43,254,000 after acquiring an additional 563,545 shares during the period. 75.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CL traded down $0.06 on Friday, hitting $71.20. The stock had a trading volume of 3,813,538 shares, compared to its average volume of 3,524,740. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25. The company has a 50 day moving average of $73.13. The company has a market cap of $61.14 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 4.59 and a beta of 0.76.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
In other news, VP Justin Skala sold 92,643 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total value of $6,557,271.54. Following the sale, the vice president now owns 163,653 shares in the company, valued at approximately $11,583,359.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Huston sold 14,039 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $70.59, for a total transaction of $991,013.01. Following the completion of the sale, the senior vice president now owns 72,101 shares in the company, valued at approximately $5,089,609.59. The disclosure for this sale can be found here. Insiders sold a total of 422,925 shares of company stock worth $30,478,467 in the last 90 days. 1.14% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Bank of America set a $80.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $62.00 to $70.00 in a research note on Monday, April 29th. Wells Fargo & Co lifted their price target on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, ValuEngine downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.13.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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