Envestnet Asset Management Inc. Has $22.72 Million Holdings in Colgate-Palmolive (CL)
Envestnet Asset Management Inc. raised its stake in Colgate-Palmolive (NYSE:CL) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 311,902 shares of the company’s stock after acquiring an additional 19,868 shares during the period. Envestnet Asset Management Inc.’s holdings in Colgate-Palmolive were worth $22,723,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock valued at $1,499,000 after buying an additional 1,566 shares during the period. Fiduciary Trust Co. lifted its holdings in shares of Colgate-Palmolive by 1.6% in the 2nd quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock valued at $12,663,000 after buying an additional 2,758 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Colgate-Palmolive by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock valued at $83,914,000 after buying an additional 105,878 shares during the period. Pensionfund DSM Netherlands acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $4,225,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $549,000. 72.86% of the stock is owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, insider Victoria L. Dolan sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Daniels sold 902 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the sale, the insider now directly owns 37,788 shares of the company’s stock, valued at approximately $2,865,086.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,950 shares of company stock valued at $13,237,385. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 earnings per share. sell-side analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective for the company in a report on Tuesday, December 19th. Deutsche Bank assumed coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price objective for the company. Finally, SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $76.51.
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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