Colgate-Palmolive Company (CL) Position Decreased by Washington Trust Bank
Washington Trust Bank reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 23.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,685 shares of the company’s stock after selling 831 shares during the period. Washington Trust Bank’s holdings in Colgate-Palmolive were worth $199,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in CL. Chickasaw Capital Management LLC increased its position in Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock worth $1,238,000 after buying an additional 11,605 shares during the period. Meritage Portfolio Management increased its position in Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock worth $7,017,000 after buying an additional 255 shares during the period. Eastern Bank increased its position in Colgate-Palmolive by 0.8% in the first quarter. Eastern Bank now owns 10,939 shares of the company’s stock worth $801,000 after buying an additional 89 shares during the period. ProShare Advisors LLC increased its position in Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock worth $64,382,000 after buying an additional 79,323 shares during the period. Finally, Lynch & Associates IN increased its position in Colgate-Palmolive by 4.1% in the first quarter. Lynch & Associates IN now owns 29,542 shares of the company’s stock worth $2,162,000 after buying an additional 1,175 shares during the period. 73.69% of the stock is currently owned by institutional investors.
Colgate-Palmolive Company (CL) traded down 0.11% during mid-day trading on Wednesday, hitting $71.72. 866,578 shares of the stock traded hands. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The stock has a 50-day moving average of $72.59 and a 200 day moving average of $72.88. The firm has a market cap of $63.17 billion, a price-to-earnings ratio of 26.65 and a beta of 0.80. Colgate-Palmolive also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 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 released its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the 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 previous year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts expect that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, July 14th. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.48%.
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A number of research firms recently commented on CL. UBS AG reaffirmed a “neutral” rating and issued a $78.00 target price (down from $79.00) on shares of Colgate-Palmolive in a research report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Monday, April 24th. Jefferies Group LLC began coverage on shares of Colgate-Palmolive in a research report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $75.82.
In other news, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the transaction, the chief financial officer now owns 484,985 shares of the company’s stock, valued at $34,821,923. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at approximately $4,012,174.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,969 shares of company stock valued at $15,710,108. Corporate insiders own 1.02% of the company’s stock.
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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