First Merchants Corp cut its position in Colgate-Palmolive Co. (NYSE:CL) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 27,252 shares of the company’s stock after selling 295 shares during the period. First Merchants Corp’s holdings in Colgate-Palmolive were worth $1,995,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tompkins Financial Corp increased 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 in the last quarter. Arcadia Investment Management Corp MI increased 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 in the last quarter. FCM Investments TX bought a new stake in shares of Colgate-Palmolive during the second quarter valued at $132,000. Orrstown Financial Services Inc. increased 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 in the last quarter. Finally, Gilman Hill Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the second quarter valued at $202,000. Institutional investors own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.48% during trading on Tuesday, hitting $73.46. 2,292,236 shares of the stock were exchanged. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The company has a market cap of $65.49 billion, a price-to-earnings ratio of 47.30 and a beta of 0.59. The stock’s 50 day moving average is $73.77 and its 200-day moving average is $72.28.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. On average, equities research analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 100.65%.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. KeyCorp assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating for the company. B. Riley restated a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Friday, July 29th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $74.46.
In other news, COO Franck J. Moison sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 188,029 shares of the company’s stock, valued at $14,132,259.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Patricia Verduin sold 3,666 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $74.98, for a total value of $274,876.68. Following the transaction, the chief technology officer now directly owns 54,602 shares in the company, valued at $4,094,057.96. 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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