Grandfield & Dodd LLC decreased its position in Colgate-Palmolive Co. (NYSE:CL) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 28,933 shares of the company’s stock after selling 200 shares during the period. Grandfield & Dodd LLC’s holdings in Colgate-Palmolive were worth $2,118,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position 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 period. Bank of Montreal Can purchased a new position in Colgate-Palmolive during the second quarter worth $64,888,000. State Street Corp increased its position in 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. Sarasin & Partners LLP increased its position in Colgate-Palmolive by 32.3% in the first quarter. Sarasin & Partners LLP now owns 2,458,570 shares of the company’s stock worth $173,698,000 after buying an additional 600,457 shares during the period. Finally, Prudential Financial Inc. increased its position in Colgate-Palmolive by 25.1% in the first quarter. Prudential Financial Inc. now owns 2,082,782 shares of the company’s stock worth $147,149,000 after buying an additional 418,330 shares during the period. 72.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.31% on Friday, hitting $73.05. The company had a trading volume of 3,316,007 shares. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38. The company has a 50 day moving average price of $73.50 and a 200 day moving average price of $72.45. The firm has a market capitalization of $65.12 billion, a price-to-earnings ratio of 47.04 and a beta of 0.63.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. Colgate-Palmolive’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Co. will post $2.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is 100.65%.
A number of equities analysts have weighed in on CL shares. Bank of America Corp. raised 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 report on Monday, September 12th. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Finally, Exane BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $74.68.
In related news, Director Ellen M. Hancock sold 4,584 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total transaction of $342,974.88. Following the transaction, the director now owns 203,632 shares of the company’s stock, valued at $15,235,746.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the transaction, the insider now directly owns 55,013 shares in the company, valued at approximately $3,952,684.05. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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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