Colgate-Palmolive Company (CL) Stake Decreased by Court Place Advisors LLC
Court Place Advisors LLC lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 42,017 shares of the company’s stock after selling 150 shares during the period. Colgate-Palmolive makes up approximately 1.5% of Court Place Advisors LLC’s portfolio, making the stock its 18th largest position. Court Place Advisors LLC’s holdings in Colgate-Palmolive were worth $3,115,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CL. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after buying an additional 169,798 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock worth $350,015,000 after buying an additional 122,983 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Colgate-Palmolive by 5.1% in the first quarter. Legal & General Group Plc now owns 4,293,890 shares of the company’s stock worth $314,276,000 after buying an additional 208,905 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after buying an additional 666,400 shares during the last quarter. 73.69% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Company (NYSE CL) traded down 0.11% during midday trading on Wednesday, hitting $71.72. The stock had a trading volume of 867,523 shares. The stock has a market cap of $63.17 billion, a price-to-earnings ratio of 26.65 and a beta of 0.80. The firm’s 50-day moving average price is $72.59 and its 200-day moving average price is $72.88. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. Colgate-Palmolive also was the recipient of unusually large options trading on Tuesday. Stock traders bought 12,928 put options on the stock. This represents an increase of approximately 560% compared to the average volume of 1,959 put options.
Colgate-Palmolive (NYSE:CL) last released 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. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
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CL has been the subject of a number of recent research reports. Bank of America Corporation upped their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Tuesday, July 4th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price for the company. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a 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 given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.82.
In other news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the transaction, the insider now owns 53,022 shares in the company, valued at $4,012,174.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Franck J. Moison sold 35,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.52, for a total value of $2,503,200.00. Following the completion of the transaction, the insider now owns 201,411 shares in the company, valued at approximately $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 $15,710,108. Company insiders own 1.02% of the company’s stock.
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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