First Midwest Bank Trust Division increased its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,264 shares of the company’s stock after buying an additional 100 shares during the period. First Midwest Bank Trust Division’s holdings in Colgate-Palmolive were worth $825,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. boosted its stake in Colgate-Palmolive by 2.8% in the first quarter. Bridges Investment Management Inc. now owns 18,983 shares of the company’s stock valued at $1,242,000 after buying an additional 517 shares during the last quarter. Forte Capital LLC ADV bought a new stake in Colgate-Palmolive during the first quarter valued at $330,000. Douglas Lane & Associates LLC bought a new stake in Colgate-Palmolive during the first quarter valued at $13,008,000. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Colgate-Palmolive by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 52,651 shares of the company’s stock valued at $3,720,000 after buying an additional 148 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in Colgate-Palmolive by 35.4% in the first quarter. Chesley Taft & Associates LLC now owns 26,802 shares of the company’s stock valued at $1,894,000 after buying an additional 7,005 shares during the last quarter. Institutional investors and hedge funds own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.70% during mid-day trading on Monday, hitting $73.62. 2,691,080 shares of the company were exchanged. The company’s 50-day moving average price is $73.63 and its 200-day moving average price is $72.42. The firm has a market capitalization of $65.63 billion, a P/E ratio of 47.41 and a beta of 0.63. Colgate-Palmolive Co. has a 12-month low of $61.40 and a 12-month high of $75.38.
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, 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts predict that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.12%. Colgate-Palmolive’s payout ratio is presently 100.65%.
CL has been the subject of several research reports. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $76.00 target price (up previously from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and set a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. B. Riley restated a “neutral” rating and set a $71.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 29th. BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target for the company. in a research note on Friday, July 29th. Finally, Citigroup Inc. raised their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research note 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. Colgate-Palmolive 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 company’s stock in a transaction that occurred on 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 sale, the insider now owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen I. Sadove sold 8,803 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.28, for a total transaction of $653,886.84. Following the sale, the director now directly owns 26,474 shares of the company’s stock, valued at approximately $1,966,488.72. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
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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