Colgate-Palmolive Company (CL) Holdings Cut by Eqis Capital Management Inc.
Eqis Capital Management Inc. cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,607 shares of the company’s stock after selling 222 shares during the quarter. Eqis Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,528,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. acquired a new position in Colgate-Palmolive in the first quarter valued at approximately $102,000. Proficio Capital Partners LLC lifted its stake in Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the period. Harbour Capital Advisors LLC acquired a new position in Colgate-Palmolive in the first quarter valued at approximately $121,000. AlphaMark Advisors LLC lifted its stake in Colgate-Palmolive by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after buying an additional 1,370 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in Colgate-Palmolive in the second quarter valued at approximately $131,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction on Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the sale, the insider now owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Justin Skala sold 74,374 shares of Colgate-Palmolive stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the sale, the chief operating officer now directly owns 97,177 shares of the company’s stock, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. Insiders sold 217,969 shares of company stock valued at $15,693,933 in the last ninety days. 1.02% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on CL shares. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Friday, June 30th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC boosted their price target on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, July 6th. Finally, Wells Fargo & Company restated 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, fourteen have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.18.
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Shares of Colgate-Palmolive Company (NYSE CL) traded down 0.41% on Friday, hitting $72.85. The stock had a trading volume of 2,968,392 shares. The stock has a market cap of $64.17 billion, a PE ratio of 27.07 and a beta of 0.80. The stock has a 50 day moving average of $71.58 and a 200-day moving average of $73.27. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. Colgate-Palmolive also was the target of unusually large options trading on Wednesday. Traders bought 7,824 put options on the company. This is an increase of approximately 601% compared to the typical volume of 1,116 put options.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 59.48%.
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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