Evercore Wealth Management LLC Sells 5,486 Shares of Colgate-Palmolive (CL)
Evercore Wealth Management LLC trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,616 shares of the company’s stock after selling 5,486 shares during the quarter. Evercore Wealth Management LLC’s holdings in Colgate-Palmolive were worth $3,255,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CL. CSat Investment Advisory L.P. acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $111,000. Bridgeworth LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $120,000. Price Capital Management Inc. acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth about $121,000. Fort L.P. acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $123,000. Finally, O Brien Wealth Partners LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth about $123,000. 75.10% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on CL shares. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Argus restated a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. Citigroup reduced their price target on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Wells Fargo & Co reduced their price target on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Finally, SunTrust Banks downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $65.00 in a research report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.20.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. Colgate-Palmolive’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Friday, October 19th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.66%. Colgate-Palmolive’s payout ratio is 58.54%.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the sale, the chief financial officer now owns 36,193 shares in the company, valued at approximately $2,426,740.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip G. Shotts sold 462 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $30,977.10. Following the sale, the vice president now owns 41,250 shares of the company’s stock, valued at approximately $2,765,812.50. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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