Colgate-Palmolive Company (CL) Position Lessened by Sustainable Growth Advisers LP
Sustainable Growth Advisers LP cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 97.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,137 shares of the company’s stock after selling 2,198,596 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Colgate-Palmolive were worth $4,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in shares of Colgate-Palmolive in the first quarter worth about $102,000. Proficio Capital Partners LLC grew its stake in shares of Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares during the last quarter. OLD Second National Bank of Aurora bought a new stake in shares of Colgate-Palmolive in the second quarter worth about $109,000. Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the first quarter worth about $121,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of Colgate-Palmolive by 4.5% in the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after purchasing an additional 70 shares during the last quarter. 73.45% of the stock is currently owned by institutional investors.
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Several analysts have weighed in on the company. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Monday, September 25th. SunTrust Banks, Inc. raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $85.00 in a research report on Wednesday, October 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $76.67.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 88,598 shares in the company, valued at approximately $6,322,353.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the sale, the insider now owns 53,173 shares in the company, valued at approximately $3,799,210.85. The disclosure for this sale can be found here. Insiders sold a total of 52,833 shares of company stock valued at $3,776,108 in the last ninety days. 1.02% of the stock is currently owned by insiders.
Shares of Colgate-Palmolive Company (CL) opened at $70.15 on Friday. Colgate-Palmolive Company has a 1 year low of $63.43 and a 1 year high of $77.27. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.34 and a current ratio of 1.23. The stock has a market cap of $61,599.07, a price-to-earnings ratio of 24.44, a PEG ratio of 3.21 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. Colgate-Palmolive’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. sell-side analysts forecast that Colgate-Palmolive Company will post 2.88 earnings per share for the current year.
The company also recently announced 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 yield of 2.28%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
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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