Independent Investors Inc. Maintains Position in Colgate-Palmolive Company (CL)
Independent Investors Inc. held its stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,900 shares of the company’s stock at the close of the 2nd quarter. Colgate-Palmolive accounts for 1.5% of Independent Investors Inc.’s holdings, making the stock its 16th largest position. Independent Investors Inc.’s holdings in Colgate-Palmolive were worth $3,550,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive in the first quarter worth $102,000. Proficio Capital Partners LLC boosted its position in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive during the 2nd quarter worth $109,000. Hanson & Doremus Investment Management grew its stake in Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in Colgate-Palmolive during the 1st quarter valued at about $121,000. 73.10% of the stock is currently owned by institutional investors.
Several analysts have weighed in on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC upped their target price on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.31.
Colgate-Palmolive Company (NYSE CL) opened at 72.95 on Tuesday. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27. The firm has a market capitalization of $64.26 billion, a PE ratio of 27.11 and a beta of 0.81. The company has a 50-day moving average price of $71.85 and a 200-day moving average price of $73.19.
Colgate-Palmolive (NYSE:CL) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. On average, analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the transaction, the insider now directly owns 53,022 shares in the company, valued at $3,839,323.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the transaction, the chief operating officer now owns 97,177 shares of the company’s stock, valued at $7,046,304.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,969 shares of company stock worth $15,693,933. Corporate insiders own 1.02% of the company’s stock.
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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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