Trillium Asset Management LLC cut its stake in Colgate-Palmolive Co. (NYSE:CL) by 15.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,887 shares of the company’s stock after selling 927 shares during the period. Trillium Asset Management LLC’s holdings in Colgate-Palmolive were worth $358,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake 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 in the last quarter. Wellington Management Group LLP raised 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 valued at $2,900,908,000 after buying an additional 7,453,260 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Colgate-Palmolive by 3.5% in the first quarter. BlackRock Fund Advisors now owns 12,314,096 shares of the company’s stock valued at $869,991,000 after buying an additional 413,740 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Colgate-Palmolive by 1.4% in the first quarter. Geode Capital Management LLC now owns 7,235,633 shares of the company’s stock valued at $510,171,000 after buying an additional 100,609 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. BlackRock Group LTD now owns 6,963,653 shares of the company’s stock valued at $491,981,000 after buying an additional 81,398 shares in the last quarter. Institutional investors and hedge funds own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.31% during midday trading on Friday, hitting $73.05. The stock had a trading volume of 3,316,007 shares. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The stock has a market cap of $65.12 billion, a PE ratio of 47.04 and a beta of 0.63. The stock has a 50-day moving average of $73.46 and a 200 day moving average of $72.46.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business 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 previous year, the firm posted $0.70 EPS. Analysts anticipate that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 100.65%.
Several brokerages recently weighed in on CL. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $70.86 to $80.00 in a report on Monday, September 12th. Citigroup Inc. upped their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a report on Friday, July 29th. KeyCorp began coverage on Colgate-Palmolive in a report on Thursday, September 8th. They set a “sector weight” rating for the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 target price (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 target price for the company. in a report on Friday, July 29th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $74.68.
In other Colgate-Palmolive news, COO Noel R. Wallace sold 78,849 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total value of $5,889,231.81. Following the sale, the chief operating officer now directly owns 236,295 shares in the company, valued at approximately $17,648,873.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patricia Verduin sold 3,834 shares of Colgate-Palmolive stock in a transaction on 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 sale, the insider now owns 55,013 shares in the company, valued at $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is currently 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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