Colgate-Palmolive Company (CL) Position Cut by Pointe Capital Management LLC
Pointe Capital Management LLC cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 36.6% during the first quarter, Holdings Channel reports. The fund owned 5,785 shares of the company’s stock after selling 3,342 shares during the period. Pointe Capital Management LLC’s holdings in Colgate-Palmolive were worth $423,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Prospera Financial Services Inc purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $205,000. Alpha Windward LLC increased its stake in shares of Colgate-Palmolive by 0.6% in the first quarter. Alpha Windward LLC now owns 2,829 shares of the company’s stock valued at $207,000 after buying an additional 18 shares during the last quarter. Weybosset Research & Management LLC increased its stake in shares of Colgate-Palmolive by 1.9% in the first quarter. Weybosset Research & Management LLC now owns 67,493 shares of the company’s stock valued at $4,940,000 after buying an additional 1,270 shares during the last quarter. ELM Advisors LLC increased its stake in shares of Colgate-Palmolive by 1.0% in the first quarter. ELM Advisors LLC now owns 4,445 shares of the company’s stock valued at $325,000 after buying an additional 45 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of Colgate-Palmolive by 0.3% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 19,317 shares of the company’s stock valued at $1,414,000 after buying an additional 57 shares during the last quarter. 73.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Company (NYSE:CL) traded up 0.104% during mid-day trading on Wednesday, reaching $71.875. 530,896 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $72.59 and its 200 day moving average price is $72.88. The company has a market cap of $63.31 billion, a PE ratio of 26.709 and a beta of 0.80. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. Colgate-Palmolive also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 12,928 put options on the stock. This represents an increase of approximately 560% compared to the typical volume of 1,959 put options.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, July 14th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.48%.
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Several brokerages have recently issued reports on CL. Bank of America Corporation increased their price objective on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Vetr downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price objective for the company. in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, May 25th. Finally, Jefferies Group LLC began coverage on shares of Colgate-Palmolive in a research report on Tuesday, April 18th. They set a “hold” rating and a $78.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the sale, the chief operating officer now directly owns 97,177 shares of the company’s stock, valued at $7,046,304.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the sale, the insider now directly owns 53,022 shares in the company, valued at $4,012,174.74. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock worth $15,710,108 over the last three months. 1.02% of the stock is owned by insiders.
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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