Artemis Investment Management LLP increased its stake in Colgate-Palmolive Co. (NYSE:CL) by 30.3% during the second quarter, Holdings Channel reports. The firm owned 275,846 shares of the company’s stock after buying an additional 64,100 shares during the period. Artemis Investment Management LLP’s holdings in Colgate-Palmolive were worth $20,188,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Tompkins Financial Corp raised its stake in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock valued at $124,000 after buying an additional 930 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock valued at $132,000 after buying an additional 400 shares during the last quarter. FCM Investments TX acquired a new stake in Colgate-Palmolive during the second quarter valued at about $132,000. Orrstown Financial Services Inc. raised its stake in Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock valued at $167,000 after buying an additional 480 shares during the last quarter. Finally, Highland Private Wealth Management acquired a new stake in Colgate-Palmolive during the first quarter valued at about $200,000. 72.97% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% on Friday, hitting $74.14. 4,652,275 shares of the stock were exchanged. The company’s 50 day moving average is $73.67 and its 200 day moving average is $72.34. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38. The stock has a market cap of $66.10 billion, a PE ratio of 47.74 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio is 100.65%.
Several equities research analysts have recently issued reports on CL shares. Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a research report on Friday, July 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, B. Riley reissued a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, August 3rd. Fifteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.46.
In related news, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction 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 transaction, the insider now owns 55,013 shares of the company’s stock, valued at $3,952,684.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Franck J. Moison sold 15,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $75.16, for a total transaction of $1,127,400.00. Following the transaction, the chief operating officer now directly owns 188,029 shares in the company, valued at approximately $14,132,259.64. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
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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