Retirement Systems of Alabama increased its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 1,034,570 shares of the company’s stock after buying an additional 1,878 shares during the period. Retirement Systems of Alabama’s holdings in Colgate-Palmolive were worth $75,731,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Pension Service increased its position in shares of Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock valued at $31,652,000 after buying an additional 17,928 shares during the period. Legal & General Group Plc boosted its stake in shares of 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 shares of 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 shares of Colgate-Palmolive during the second quarter worth approximately $64,888,000. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $332,000. Institutional investors and hedge funds own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% during midday trading on Friday, reaching $74.14. The company’s stock had a trading volume of 4,652,275 shares. The company’s 50-day moving average is $73.67 and its 200 day moving average is $72.34. The firm has a market capitalization of $66.10 billion, a P/E ratio of 47.74 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.
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, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for 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 business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. Analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The business 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 100.65%.
A number of analysts have commented on CL shares. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Finally, Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.46.
In related news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated 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 owns 55,013 shares of the company’s stock, valued at $3,952,684.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen I. Sadove sold 8,803 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $74.28, for a total value of $653,886.84. Following the transaction, the director now directly owns 26,474 shares in the company, valued at approximately $1,966,488.72. The disclosure for this sale can be found here. Corporate 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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