Parthenon LLC continued to hold its position in shares of Colgate-Palmolive Co. (NYSE:CL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,618 shares of the company’s stock at the end of the second quarter. Parthenon LLC’s holdings in Colgate-Palmolive were worth $2,534,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CL. National Pension Service boosted its stake in Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock worth $31,652,000 after buying an additional 17,928 shares in the last quarter. Legal & General Group Plc boosted its stake 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 worth $279,300,000 after buying an additional 50,393 shares in the last quarter. Aviva PLC boosted its stake in Colgate-Palmolive by 1.3% in the first quarter. Aviva PLC now owns 531,710 shares of the company’s stock worth $37,565,000 after buying an additional 7,069 shares in the last quarter. Bank of Montreal Can purchased a new stake in Colgate-Palmolive during the second quarter worth $64,888,000. Finally, Stelac Advisory Services LLC purchased a new stake in Colgate-Palmolive during the first quarter worth $332,000. Institutional investors own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.19% during trading on Wednesday, reaching $73.60. 2,684,990 shares of the company’s stock were exchanged. The stock has a market capitalization of $65.61 billion, a PE ratio of 47.39 and a beta of 0.59. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The stock has a 50-day moving average of $73.74 and a 200-day moving average of $72.29.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The firm earned $3.85 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.70 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive Co. will post $2.80 EPS for the current year.
The firm also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 100.65%.
CL has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price target for the company from $70.86 to $80.00 in a report on Monday, September 12th. KeyCorp initiated coverage on shares of Colgate-Palmolive in a report on Thursday, September 8th. They issued a “sector weight” rating on the stock. Exane BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $75.00 price target (up from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average target price of $74.46.
In other news, CTO Patricia Verduin sold 3,666 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the completion of the sale, the chief technology officer now directly owns 54,602 shares of the company’s stock, valued at $4,094,057.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Franck J. Moison sold 15,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 188,029 shares of the company’s stock, valued at $14,132,259.64. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
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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