Pointe Capital Management LLC reduced its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 6,880 shares of the company’s stock after selling 390 shares during the period. Pointe Capital Management LLC’s holdings in Colgate-Palmolive were worth $504,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Colgate-Palmolive during the second quarter valued at approximately $64,888,000. State Street Corp raised its position in shares of Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock valued at $4,403,835,000 after buying an additional 742,556 shares during the period. Sarasin & Partners LLP raised its position in shares of Colgate-Palmolive by 32.3% in the first quarter. Sarasin & Partners LLP now owns 2,458,570 shares of the company’s stock valued at $173,698,000 after buying an additional 600,457 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Colgate-Palmolive by 25.1% in the first quarter. Prudential Financial Inc. now owns 2,082,782 shares of the company’s stock valued at $147,149,000 after buying an additional 418,330 shares during the period. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% during trading on Friday, reaching $74.14. 4,652,275 shares of the company traded hands. The stock’s 50 day moving average price is $73.67 and its 200-day moving average price is $72.34. The stock has a market cap of $66.10 billion, a P/E ratio of 47.74 and a beta of 0.59. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities research analysts expect that Colgate-Palmolive Co. will post $2.80 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. 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 2.10%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 100.65%.
Several research analysts have recently weighed in on CL shares. B. Riley restated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, August 3rd. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. 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 note on Sunday, July 24th. JPMorgan Chase & Co. restated a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Finally, Exane BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.46.
In related news, insider Patricia Verduin sold 3,834 shares of Colgate-Palmolive stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total transaction of $275,472.90. Following the transaction, the insider now directly owns 55,013 shares in the company, valued at $3,952,684.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen I. Sadove sold 8,803 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $74.28, for a total value of $653,886.84. Following the sale, the director now directly owns 26,474 shares in the company, valued at $1,966,488.72. The disclosure for this sale can be found here. 1.05% of the stock is owned by 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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