Huntington National Bank cut its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 24.6% during the second quarter, Holdings Channel reports. The fund owned 243,577 shares of the company’s stock after selling 79,315 shares during the period. Huntington National Bank’s holdings in Colgate-Palmolive were worth $17,829,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. National Pension Service boosted its position in Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock valued at $31,652,000 after buying an additional 17,928 shares in the last quarter. Legal & General Group Plc boosted its position in Colgate-Palmolive by 1.3% in the first quarter. Legal & General Group Plc now owns 3,953,265 shares of the company’s stock valued at $279,300,000 after buying an additional 50,393 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock valued at $21,153,000 after buying an additional 13,835 shares in the last quarter. Artemis Investment Management LLP boosted its position in Colgate-Palmolive by 30.3% in the second quarter. Artemis Investment Management LLP now owns 275,846 shares of the company’s stock valued at $20,188,000 after buying an additional 64,100 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Colgate-Palmolive during the second quarter valued at about $64,888,000. 72.97% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.572% during trading on Tuesday, reaching $72.195. 2,442,041 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $73.40 and its 200-day moving average price is $72.52. The stock has a market capitalization of $64.36 billion, a price-to-earnings ratio of 46.487 and a beta of 0.63. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $0.70 EPS. Colgate-Palmolive’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. Colgate-Palmolive’s payout ratio is currently 100.65%.
Several research analysts recently issued reports on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Monday, October 3rd. Citigroup Inc. increased their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.86 to $80.00 in a report on Monday, September 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $74.68.
In related news, COO Franck J. Moison sold 15,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 188,029 shares in the company, valued at approximately $14,132,259.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total transaction of $275,472.90. Following the completion of the sale, the insider now owns 55,013 shares in the company, valued at $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate 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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