Brown Advisory Inc. boosted its stake in Colgate-Palmolive Co. (NYSE:CL) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,778 shares of the company’s stock after buying an additional 5,861 shares during the period. Brown Advisory Inc.’s holdings in Colgate-Palmolive were worth $13,306,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of CL. 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 worth $124,000 after buying an additional 930 shares during the period. Arcadia Investment Management Corp MI boosted its position 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 worth $132,000 after buying an additional 400 shares in the last quarter. FCM Investments TX acquired a new position in Colgate-Palmolive during the second quarter worth approximately $132,000. Orrstown Financial Services Inc. boosted its position in Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock worth $167,000 after buying an additional 480 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Colgate-Palmolive during the second quarter worth approximately $198,000. Institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) opened at 73.25 on Friday. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38. The stock’s 50 day moving average is $73.84 and its 200-day moving average is $72.14. The firm has a market capitalization of $65.30 billion, a P/E ratio of 47.17 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 business earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts forecast 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 $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 100.65%.
A number of research analysts have commented on the company. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their price target for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. KeyCorp assumed coverage on Colgate-Palmolive in a research note on Thursday, September 8th. They set a “sector weight” rating on the stock. Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Finally, Deutsche Bank AG restated a “hold” rating and set a $75.00 price target (up from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $74.46.
In other news, insider Patricia Verduin sold 3,834 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the sale, the insider now directly owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Franck J. Moison sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 188,029 shares of the company’s stock, valued at $14,132,259.64. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
Colgate-Palmolive Company Profile
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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