AT Bancorp Reduces Position in Colgate-Palmolive Company (CL)
AT Bancorp decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,116 shares of the company’s stock after selling 800 shares during the quarter. AT Bancorp’s holdings in Colgate-Palmolive were worth $602,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive during the first quarter valued at approximately $102,000. Proficio Capital Partners LLC lifted its holdings in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive during the second quarter valued at approximately $109,000. Harbour Capital Advisors LLC purchased a new position in Colgate-Palmolive during the first quarter valued at approximately $121,000. Finally, Hanson & Doremus Investment Management lifted its holdings in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after purchasing an additional 70 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 72.72 on Friday. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The company has a market cap of $64.05 billion, a PE ratio of 27.02 and a beta of 0.81. The stock’s 50 day moving average is $71.99 and its 200 day moving average is $73.17.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.48%.
In other news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $72.41, for a total transaction of $277,547.53. Following the transaction, the insider now owns 53,022 shares in the company, valued at approximately $3,839,323.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the transaction, the senior vice president now owns 88,598 shares in the company, valued at approximately $6,322,353.28. The disclosure for this sale can be found here. Insiders have sold a total of 217,969 shares of company stock worth $15,693,933 in the last quarter. Insiders own 1.02% of the company’s stock.
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Several equities analysts have weighed in on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, July 4th. Jefferies Group LLC lifted their price target on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Friday, June 30th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $76.31.
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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