Advisory Services Network LLC Boosts Stake in Colgate-Palmolive (CL)
Advisory Services Network LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,084 shares of the company’s stock after purchasing an additional 64 shares during the period. Advisory Services Network LLC’s holdings in Colgate-Palmolive were worth $2,230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CL. Pacer Advisors Inc. increased its holdings in Colgate-Palmolive by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after acquiring an additional 1,566 shares during the period. Alliancebernstein L.P. increased its holdings in Colgate-Palmolive by 4.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after acquiring an additional 77,414 shares during the period. Israel Discount Bank of New York bought a new stake in Colgate-Palmolive during the 1st quarter worth approximately $1,349,000. Principal Financial Group Inc. increased its holdings in Colgate-Palmolive by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock worth $93,025,000 after acquiring an additional 7,905 shares during the period. Finally, Personal Capital Advisors Corp increased its holdings in Colgate-Palmolive by 5.8% during the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock worth $29,209,000 after acquiring an additional 21,456 shares during the period. 72.96% of the stock is currently owned by institutional investors.
In other Colgate-Palmolive news, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the completion of the sale, the chief marketing officer now owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Justin Skala sold 126,393 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the sale, the chief operating officer now directly owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Insiders have sold a total of 173,673 shares of company stock valued at $12,629,293 in the last three months. 1.02% of the stock is currently owned by corporate insiders.
Shares of Colgate-Palmolive (CL) opened at $73.32 on Monday. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The stock has a market cap of $64,382.68, a price-to-earnings ratio of 25.55, a PEG ratio of 3.36 and a beta of 0.81. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. analysts forecast that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were paid a $0.40 dividend. The ex-dividend date was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Colgate-Palmolive’s dividend payout ratio (DPR) is 61.78%.
A number of research firms recently weighed in on CL. SunTrust Banks raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Societe Generale lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price target on the stock. in a report on Wednesday, November 29th. They noted that the move was a valuation call. Citigroup decreased their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a report on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.04.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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