SL Advisors LLC purchased a new position in shares of Colgate-Palmolive Co. (NYSE:CL) during the second quarter, Holdings Channel reports. The institutional investor purchased 13,228 shares of the company’s stock, valued at approximately $968,000.
Several other hedge funds have also modified their holdings of the stock. Tompkins Financial Corp increased its stake in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock worth $124,000 after buying an additional 930 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock worth $132,000 after buying an additional 400 shares in the last quarter. FCM Investments TX purchased a new stake in Colgate-Palmolive during the second quarter worth about $132,000. Orrstown Financial Services Inc. increased its stake in Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock worth $167,000 after buying an additional 480 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Colgate-Palmolive during the second quarter worth about $198,000. 72.97% of the stock is owned by institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.104% on Thursday, reaching $72.355. The company had a trading volume of 1,623,936 shares. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The firm has a market capitalization of $64.50 billion, a price-to-earnings ratio of 46.590 and a beta of 0.63. The stock’s 50 day moving average is $73.28 and its 200 day moving average is $72.52.
Colgate-Palmolive (NYSE:CL) last issued its quarterly 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 return on equity of 1,980.28% and a net margin of 9.04%. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Colgate-Palmolive’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders 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 yield of 2.15%. Colgate-Palmolive’s payout ratio is presently 100.65%.
A number of analysts have issued reports on the company. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. Citigroup Inc. raised their price target on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, July 29th. KeyCorp started coverage on Colgate-Palmolive in a report on Thursday, September 8th. They issued a “sector weight” rating for the company. Deutsche Bank AG reaffirmed 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. Finally, BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target for the company. in a report on Friday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $74.68.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the stock in a transaction dated 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 transaction, the insider now owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen M. Hancock sold 4,584 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.82, for a total transaction of $342,974.88. Following the transaction, the director now directly owns 203,632 shares of the company’s stock, valued at approximately $15,235,746.24. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
Colgate-Palmolive Company Profile
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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