Tower Research Capital LLC TRC purchased a new stake in shares of Colgate-Palmolive Co. (NYSE:CL) during the second quarter, Holdings Channel reports. The institutional investor purchased 6,392 shares of the company’s stock, valued at approximately $468,000.
Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Colgate-Palmolive during the second quarter worth about $214,435,000. Ameriprise Financial Inc. increased its stake in Colgate-Palmolive by 142.6% in the second quarter. Ameriprise Financial Inc. now owns 1,881,639 shares of the company’s stock worth $137,710,000 after buying an additional 1,106,185 shares during the last quarter. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 1.8% in the second quarter. Vanguard Group Inc. now owns 60,839,484 shares of the company’s stock worth $4,453,451,000 after buying an additional 1,103,235 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Colgate-Palmolive during the second quarter worth about $64,888,000. Institutional investors and hedge funds own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) opened at 73.46 on Wednesday. The stock’s 50 day moving average is $73.77 and its 200-day moving average is $72.28. The company has a market capitalization of $65.49 billion, a P/E ratio of 47.30 and a beta of 0.59. Colgate-Palmolive Co. has a 12-month low of $61.40 and a 12-month high of $75.38.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. On average, equities analysts predict that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 100.65%.
Several brokerages have recently commented on CL. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price target for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. JPMorgan Chase & Co. restated a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. Finally, Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $74.46.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $71.85, for a total transaction of $275,472.90. Following the completion of the sale, the insider now owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $74.93, for a total transaction of $1,049,020.00. Following the sale, the senior vice president now directly owns 102,761 shares of the company’s stock, valued at approximately $7,699,881.73. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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