Summit Global Investments acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 34,617 shares of the company’s stock, valued at approximately $2,265,000.
Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in Colgate-Palmolive Company by 3.9% in the third quarter. Fisher Asset Management LLC now owns 24,639 shares of the company’s stock valued at $1,827,000 after buying an additional 918 shares during the last quarter. Oakmont Partners LLC acquired a new stake in shares of Colgate-Palmolive Company during the third quarter valued at about $202,000. First Financial Bank N.A. Trust Division increased its stake in shares of Colgate-Palmolive Company by 1.2% in the third quarter. First Financial Bank N.A. Trust Division now owns 35,200 shares of the company’s stock valued at $2,610,000 after buying an additional 406 shares in the last quarter. Dynamic Advisors Solutions LLC increased its stake in shares of Colgate-Palmolive Company by 73.5% in the third quarter. Dynamic Advisors Solutions LLC now owns 13,268 shares of the company’s stock valued at $984,000 after buying an additional 5,620 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Colgate-Palmolive Company by 3.4% in the third quarter. Carroll Financial Associates Inc. now owns 5,469 shares of the company’s stock valued at $405,000 after buying an additional 178 shares in the last quarter. 73.24% of the stock is owned by institutional investors.
Colgate-Palmolive Company (NYSE:CL) opened at 73.43 on Tuesday. The company has a market cap of $64.83 billion, a PE ratio of 27.00 and a beta of 0.70. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $75.38. The firm’s 50-day moving average price is $71.96 and its 200 day moving average price is $69.58.
Colgate-Palmolive Company (NYSE:CL) last announced its quarterly earnings results on Friday, January 27th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Colgate-Palmolive Company had a return on equity of 4,897.09% and a net margin of 16.06%. The business earned $3.72 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. Colgate-Palmolive Company’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post $2.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 19th. This represents a $1.60 annualized dividend and a yield of 2.18%. This is an increase from Colgate-Palmolive Company’s previous quarterly dividend of $0.39. Colgate-Palmolive Company’s dividend payout ratio is 57.35%.
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Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive Company in a report on Thursday, March 23rd. Zacks Investment Research raised Colgate-Palmolive Company from a “sell” rating to a “hold” rating in a report on Friday. Citigroup Inc raised their price target on Colgate-Palmolive Company from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, March 21st. JPMorgan Chase & Co. assumed coverage on Colgate-Palmolive Company in a report on Tuesday, March 21st. They set a “neutral” rating and a $77.00 price target for the company. Finally, BNP Paribas raised Colgate-Palmolive Company from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $74.77.
In related news, insider Jennifer Daniels sold 868 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $66.62, for a total transaction of $57,826.16. Following the completion of the sale, the insider now owns 36,813 shares in the company, valued at $2,452,482.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $65.99, for a total value of $252,939.67. Following the sale, the insider now owns 54,924 shares of the company’s stock, valued at approximately $3,624,434.76. The disclosure for this sale can be found here. Insiders have sold 12,701 shares of company stock valued at $838,766 in the last quarter. 1.05% of the stock is currently owned by corporate insiders.
About Colgate-Palmolive Company
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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