Starfire Investment Advisers Inc. boosted its position in Colgate-Palmolive Co. (NYSE:CL) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,127 shares of the company’s stock after buying an additional 6 shares during the period. Starfire Investment Advisers Inc.’s holdings in Colgate-Palmolive were worth $668,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp boosted its stake 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 last quarter. Arcadia Investment Management Corp MI boosted 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 worth $132,000 after buying an additional 400 shares during the last quarter. FCM Investments TX bought a new stake in shares of Colgate-Palmolive during the second quarter worth $132,000. Orrstown Financial Services Inc. boosted 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 worth $167,000 after buying an additional 480 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the second quarter worth $198,000. 72.97% of the stock is currently owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.37% during midday trading on Wednesday, reaching $72.47. The company had a trading volume of 1,152,293 shares. The firm has a market capitalization of $64.61 billion, a P/E ratio of 46.66 and a beta of 0.63. The stock’s 50 day moving average price is $73.34 and its 200-day moving average price is $72.52. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data 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 net margin of 9.04% and a return on equity of 1,980.28%. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business posted $0.70 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Colgate-Palmolive Co. will post $2.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.39 per share. 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 2.16%. Colgate-Palmolive’s dividend payout ratio is 100.65%.
A number of analysts have recently weighed in on the company. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price target for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. Citigroup Inc. raised their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, July 29th. KeyCorp started coverage on Colgate-Palmolive in a research report on Thursday, September 8th. They issued a “sector weight” rating on the stock. Deutsche Bank AG restated a “hold” rating and issued a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Finally, BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Friday, July 29th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $74.68.
In other news, insider Patricia Verduin sold 3,834 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.85, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $74.93, for a total transaction of $1,049,020.00. Following the completion of the sale, the senior vice president now directly owns 102,761 shares in the company, valued at $7,699,881.73. The disclosure for this sale can be found here. 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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