Colgate-Palmolive Company (CL) Position Reduced by Palladium Partners LLC
Palladium Partners LLC lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,712 shares of the company’s stock after selling 108 shares during the quarter. Palladium Partners LLC’s holdings in Colgate-Palmolive were worth $1,313,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Waldron LP acquired a new stake in Colgate-Palmolive in the first quarter valued at about $238,000. Bridge Creek Capital Management LLC lifted its position in Colgate-Palmolive by 3.2% in the first quarter. Bridge Creek Capital Management LLC now owns 55,475 shares of the company’s stock valued at $4,060,000 after purchasing an additional 1,725 shares during the period. Beaumont Financial Partners LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at about $208,000. North Star Investment Management Corp. lifted its position in Colgate-Palmolive by 3.9% in the first quarter. North Star Investment Management Corp. now owns 1,797 shares of the company’s stock valued at $132,000 after purchasing an additional 67 shares during the period. Finally, Barrett Asset Management LLC lifted its position in Colgate-Palmolive by 1.5% in the first quarter. Barrett Asset Management LLC now owns 13,699 shares of the company’s stock valued at $1,003,000 after purchasing an additional 200 shares during the period. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the completion of the sale, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.52, for a total transaction of $2,503,200.00. Following the completion of the sale, the insider now directly owns 201,411 shares of the company’s stock, valued at $14,404,914.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,969 shares of company stock worth $15,693,933. Company insiders own 1.02% of the company’s stock.
A number of research analysts have issued reports on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a report on Thursday, September 28th. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $75.00 to $84.00 in a report on Monday, September 25th. Macquarie started coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They issued a “neutral” rating and a $76.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $76.31.
Colgate-Palmolive Company (CL) opened at 73.21 on Friday. The firm has a 50 day moving average of $71.95 and a 200-day moving average of $73.18. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The firm has a market cap of $64.49 billion, a price-to-earnings ratio of 27.21 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
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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