Thomaspartners Inc. boosted its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,722,021 shares of the company’s stock after buying an additional 88,211 shares during the period. Thomaspartners Inc. owned 0.19% of Colgate-Palmolive worth $126,052,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Tompkins Financial Corp increased its position 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 during the period. Arcadia Investment Management Corp MI increased its position 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 during the period. FCM Investments TX bought a new position in Colgate-Palmolive during the second quarter worth approximately $132,000. Orrstown Financial Services Inc. increased its position 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 during the period. Finally, ClariVest Asset Management LLC bought a new position in Colgate-Palmolive during the second quarter worth approximately $198,000. Institutional investors and hedge funds own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) opened at 73.25 on Friday. The firm has a market cap of $65.30 billion, a PE ratio of 47.17 and a beta of 0.59. The firm’s 50-day moving average is $73.84 and its 200-day moving average is $72.14. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. Equities analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current 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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.13%. Colgate-Palmolive’s dividend payout ratio is currently 100.65%.
A number of research analysts recently commented on the stock. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.86 to $80.00 in a research report on Monday, September 12th. Citigroup Inc. raised their price objective on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. KeyCorp began coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. Deutsche Bank AG reissued a “hold” rating and set a $75.00 price objective (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Finally, BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research report on Friday, July 29th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $74.46.
In other news, Director Ellen M. Hancock sold 4,584 shares of the company’s 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 completion of the transaction, the director now owns 203,632 shares in the company, valued at $15,235,746.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia Verduin sold 3,834 shares of the company’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 approximately $3,952,684.05. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.
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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