Rehmann Capital Advisory Group reduced its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,928 shares of the company’s stock after selling 74 shares during the period. Rehmann Capital Advisory Group’s holdings in Colgate-Palmolive were worth $288,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in CL. Tompkins Financial Corp raised its position in shares of 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 raised its stake in shares of 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 period. FCM Investments TX acquired a new stake in shares of Colgate-Palmolive during the second quarter valued at about $132,000. Orrstown Financial Services Inc. raised its stake in shares of 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 period. Finally, Gilman Hill Asset Management LLC acquired a new stake in shares of Colgate-Palmolive during the second quarter valued at about $202,000. 72.97% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.38% during mid-day trading on Friday, hitting $73.25. The stock had a trading volume of 3,613,090 shares. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38. The firm has a market capitalization of $65.30 billion, a PE ratio of 47.17 and a beta of 0.59. The stock’s 50-day moving average is $73.84 and its 200-day moving average is $72.14.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the business earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down 5.4% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors 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 2.13%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 100.65%.
Several brokerages have issued reports on CL. B. Riley reissued a “neutral” rating and issued a $71.00 price target on shares of Colgate-Palmolive in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. Deutsche Bank AG reissued a “hold” rating and issued a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $74.46.
In other Colgate-Palmolive news, CTO Patricia Verduin sold 3,666 shares of Colgate-Palmolive stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the transaction, the chief technology officer now owns 54,602 shares in the company, valued at $4,094,057.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Franck J. Moison sold 15,000 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $75.16, for a total value of $1,127,400.00. Following the completion of the transaction, the chief operating officer now 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 owned by corporate 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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