Montag & Caldwell LLC decreased its position in Colgate-Palmolive Co. (NYSE:CL) by 27.5% during the second quarter, Holdings Channel reports. The firm owned 1,292,239 shares of the company’s stock after selling 489,928 shares during the period. Colgate-Palmolive accounts for approximately 1.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 27th largest position. Montag & Caldwell LLC’s holdings in Colgate-Palmolive were worth $94,592,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addenda Capital Inc. raised its position in Colgate-Palmolive by 0.3% in the first quarter. Addenda Capital Inc. now owns 23,940 shares of the company’s stock valued at $1,692,000 after buying an additional 71 shares in the last quarter. Torray LLC raised its position in Colgate-Palmolive by 38.3% in the first quarter. Torray LLC now owns 823,047 shares of the company’s stock valued at $58,148,000 after buying an additional 227,755 shares in the last quarter. Hyman Charles D acquired a new position in Colgate-Palmolive during the first quarter valued at about $5,114,000. IFP Advisors Inc raised its position in Colgate-Palmolive by 22.7% in the first quarter. IFP Advisors Inc now owns 24,207 shares of the company’s stock valued at $1,710,000 after buying an additional 4,476 shares in the last quarter. Finally, Badgley Phelps & Bell Inc. raised its position in Colgate-Palmolive by 1.2% in the first quarter. Badgley Phelps & Bell Inc. now owns 109,277 shares of the company’s stock valued at $7,720,000 after buying an additional 1,309 shares in the last quarter. 72.97% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.31% during midday trading on Friday, reaching $73.05. The company’s stock had a trading volume of 3,316,007 shares. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The firm has a market cap of $65.12 billion, a P/E ratio of 47.04 and a beta of 0.63. The firm has a 50 day moving average price of $73.46 and a 200 day moving average price of $72.46.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data 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. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal 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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is 100.65%.
CL has been the subject of several recent analyst reports. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Monday, October 3rd. Exane BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $76.00 price objective (up from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. JPMorgan Chase & Co. reissued a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, B. Riley reissued a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, August 3rd. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $74.68.
In related news, CTO Patricia Verduin sold 3,666 shares of the company’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 completion of the transaction, the chief technology officer now owns 54,602 shares of the company’s stock, valued at approximately $4,094,057.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen I. Sadove sold 8,803 shares of the company’s stock in a transaction 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 completion of the transaction, 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. 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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