UMB Bank N A MO increased its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,678 shares of the company’s stock after buying an additional 1,085 shares during the period. UMB Bank N A MO’s holdings in Colgate-Palmolive were worth $2,831,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Tompkins Financial Corp raised 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 in the last quarter. Arcadia Investment Management Corp MI raised 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 in the last quarter. FCM Investments TX acquired a new position in Colgate-Palmolive during the second quarter worth about $132,000. Orrstown Financial Services Inc. raised 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 in the last quarter. Finally, Highland Private Wealth Management acquired a new position in Colgate-Palmolive during the first quarter worth about $200,000. 72.97% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% on Friday, hitting $74.14. The stock had a trading volume of 4,652,275 shares. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The stock has a market cap of $66.10 billion, a price-to-earnings ratio of 47.74 and a beta of 0.59. The stock’s 50 day moving average is $73.67 and its 200 day moving average is $72.34.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive Co. will post $2.80 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s payout ratio is 100.65%.
A number of equities analysts have issued reports on CL shares. Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research note on Friday, July 29th. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, B. Riley reaffirmed a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, August 3rd. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.46.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $74.93, for a total value of $1,049,020.00. Following the completion of the transaction, the senior vice president now owns 102,761 shares in the company, valued at $7,699,881.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Patricia Verduin sold 3,666 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the completion of the transaction, the chief technology officer now owns 54,602 shares of the company’s stock, valued at approximately $4,094,057.96. The disclosure for this sale can be found here. 1.05% of the stock is owned by company 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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