Bbva Compass Bancshares Inc. increased its position in Colgate-Palmolive Co. (NYSE:CL) by 25.9% during the second quarter, Holdings Channel reports. The firm owned 63,772 shares of the company’s stock after buying an additional 13,136 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Colgate-Palmolive were worth $4,668,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of 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 period. Bank of Montreal Can bought a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $64,888,000. State Street Corp boosted its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock worth $4,403,835,000 after buying an additional 742,556 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Colgate-Palmolive by 3.5% in the first quarter. BlackRock Fund Advisors now owns 12,314,096 shares of the company’s stock worth $869,991,000 after buying an additional 413,740 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $27,088,000. 72.95% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.22% during mid-day trading on Monday, reaching $72.15. The company’s stock had a trading volume of 1,224,455 shares. The company has a market cap of $64.32 billion, a price-to-earnings ratio of 46.46 and a beta of 0.63. The firm has a 50 day moving average price of $73.15 and a 200 day moving average price of $72.54. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. Equities research analysts anticipate that Colgate-Palmolive Co. will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.16%. Colgate-Palmolive’s dividend payout ratio is presently 100.65%.
CL has been the subject of a number of analyst reports. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. Finally, Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $74.68.
In other Colgate-Palmolive news, Director Ellen M. Hancock sold 4,584 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total transaction of $342,974.88. Following the completion of the transaction, the director now owns 203,632 shares in the company, valued at approximately $15,235,746.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Noel R. Wallace sold 78,849 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total value of $5,889,231.81. Following the transaction, the chief operating officer now owns 236,295 shares of the company’s stock, valued at approximately $17,648,873.55. The disclosure for this sale can be found here. 1.05% of the stock is 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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