Cypress Capital Group lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 46,051 shares of the company’s stock after selling 282 shares during the period. Cypress Capital Group’s holdings in Colgate-Palmolive were worth $3,371,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake 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 valued at $1,377,537,000 after buying an additional 169,798 shares during the last quarter. First Eagle Investment Management LLC boosted its stake 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 valued at $350,015,000 after buying an additional 122,983 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake 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 valued at $333,380,000 after buying an additional 2,082,262 shares during the last quarter. Legal & General Group Plc boosted its stake 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 valued at $314,276,000 after buying an additional 208,905 shares during the last quarter. Finally, Swiss National Bank boosted its stake 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 valued at $268,393,000 after buying an additional 666,400 shares during the last quarter. Institutional investors own 73.85% of the company’s stock.

Shares of Colgate-Palmolive Company (NYSE CL) traded down 0.41% during trading on Friday, hitting $71.26. 2,023,502 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 firm has a 50-day moving average of $72.84 and a 200-day moving average of $72.74. The firm has a market capitalization of $62.77 billion, a price-to-earnings ratio of 26.48 and a beta of 0.80.

Colgate-Palmolive (NYSE:CL) last posted its quarterly 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 the consensus estimate of $3.89 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.48%.

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CL has been the subject of several recent research reports. Bank of America Corporation upped their target price on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, July 4th. Jefferies Group LLC initiated coverage on shares of Colgate-Palmolive in a research report on Tuesday, April 18th. They set a “hold” rating and a $78.00 target price for the company. BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $75.82.

In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction on Monday, July 17th. The shares were sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the sale, the insider now directly owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of Colgate-Palmolive 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 sale, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 203,969 shares of company stock valued at $14,711,068. Insiders own 1.02% of the company’s stock.

About Colgate-Palmolive

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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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