Resources Investment Advisors LLC. trimmed its position in Colgate-Palmolive (NYSE:CL) by 7.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,419 shares of the company’s stock after selling 350 shares during the period. Resources Investment Advisors LLC.’s holdings in Colgate-Palmolive were worth $359,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Horan Securities Inc. grew its position in Colgate-Palmolive by 60.1% in the 2nd quarter. Horan Securities Inc. now owns 341 shares of the company’s stock worth $28,000 after purchasing an additional 128 shares in the last quarter. Cowen Prime Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at about $28,000. Eagle Bay Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at about $32,000. First PREMIER Bank purchased a new position in Colgate-Palmolive in the second quarter valued at about $33,000. Finally, Lumature Wealth Partners LLC purchased a new position in Colgate-Palmolive in the first quarter valued at about $59,000. 76.28% of the stock is owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, Director Lorrie M. Norrington sold 1,898 shares of the business’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $78.02, for a total transaction of $148,081.96. Following the transaction, the director now owns 24,602 shares in the company, valued at $1,919,448.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Daniels sold 20,290 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $79.11, for a total transaction of $1,605,141.90. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 29th. The company reported $0.80 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Colgate-Palmolive had a net margin of 15.98% and a return on equity of 293.48%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. As a group, analysts forecast that Colgate-Palmolive will post 3.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 21st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.33%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.82%.
CL has been the topic of a number of recent research reports. Evercore ISI restated a “buy” rating and set a $95.00 price target on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Credit Suisse Group upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $95.00 in a research note on Wednesday, June 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Colgate-Palmolive from $86.00 to $84.00 and set a “hold” rating on the stock in a research note on Monday, August 2nd. Finally, UBS Group initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $85.54.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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