Colgate-Palmolive Co. (CL) Shares Sold by Shinko Asset Management Co. Ltd.
Shinko Asset Management Co. Ltd. lowered its position in Colgate-Palmolive Co. (NYSE:CL) by 21.8% during the second quarter, Holdings Channel reports. The firm owned 5,029 shares of the company’s stock after selling 1,400 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $368,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position 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 worth $4,403,835,000 after buying an additional 742,556 shares during the last quarter. Wellington Management Group LLP raised its position 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 worth $2,900,908,000 after buying an additional 7,453,260 shares during the last quarter. BlackRock Fund Advisors raised its position 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 worth $869,991,000 after buying an additional 413,740 shares during the last quarter. Geode Capital Management LLC raised its position 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 worth $510,171,000 after buying an additional 100,609 shares during the last quarter. Finally, BlackRock Group LTD raised its position 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 worth $491,981,000 after buying an additional 81,398 shares during the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.19% during mid-day trading on Friday, hitting $71.96. The company’s stock had a trading volume of 3,959,683 shares. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38. The firm has a 50 day moving average of $74.22 and a 200-day moving average of $71.91. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 46.34 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts expect that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.17%. Colgate-Palmolive’s dividend payout ratio is 100.65%.
A number of research analysts have commented on the company. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.86 to $80.00 in a research report on Monday, September 12th. KeyCorp initiated coverage on Colgate-Palmolive in a research report on Thursday, September 8th. They issued a “sector weight” rating on the stock. B. Riley restated a “neutral” rating and issued a $71.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. restated a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Finally, Exane BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.46.
In related news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $74.98, for a total value of $274,876.68. Following the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at $4,094,057.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ellen M. Hancock sold 4,584 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total transaction of $342,974.88. Following the completion of the sale, the director now directly owns 203,632 shares in the company, valued at approximately $15,235,746.24. 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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