Everence Capital Management Inc. Sells 9,406 Shares of Colgate-Palmolive (CL)
Everence Capital Management Inc. lowered its stake in Colgate-Palmolive (NYSE:CL) by 35.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,977 shares of the company’s stock after selling 9,406 shares during the quarter. Everence Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,281,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beach Investment Management LLC. bought a new stake in Colgate-Palmolive during the 2nd quarter valued at approximately $3,954,000. Pitcairn Co. raised its stake in Colgate-Palmolive by 1.1% during the 2nd quarter. Pitcairn Co. now owns 6,253 shares of the company’s stock valued at $464,000 after purchasing an additional 67 shares during the period. Advisors Asset Management Inc. raised its stake in Colgate-Palmolive by 2.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 185,418 shares of the company’s stock valued at $13,745,000 after purchasing an additional 4,721 shares during the period. Pinnacle Financial Partners Inc. raised its stake in Colgate-Palmolive by 348.4% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 30,342 shares of the company’s stock valued at $2,249,000 after purchasing an additional 23,575 shares during the period. Finally, Rational Advisors LLC raised its stake in Colgate-Palmolive by 180.9% during the 2nd quarter. Rational Advisors LLC now owns 7,608 shares of the company’s stock valued at $564,000 after purchasing an additional 4,900 shares during the period. 72.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Henning I. Jakobsen sold 36,215 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $71.22, for a total transaction of $2,579,232.30. Following the completion of the transaction, the vice president now owns 70,783 shares in the company, valued at approximately $5,041,165.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Franck J. Moison sold 142,979 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $70.09, for a total value of $10,021,398.11. Following the transaction, the insider now owns 224,027 shares of the company’s stock, valued at approximately $15,702,052.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,451 shares of company stock valued at $23,534,707. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 26th. The company reported $0.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. research analysts forecast that Colgate-Palmolive will post 3.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s payout ratio is currently 70.18%.
A number of analysts have issued reports on the company. Jefferies Group reaffirmed a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a research note on Friday, January 26th. Societe Generale downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective on the stock. in a research note on Wednesday, November 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Citigroup reduced their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Finally, Stifel Nicolaus set a $73.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $77.71.
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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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