Investec Asset Management LTD Reduces Holdings in Colgate-Palmolive (CL)
Investec Asset Management LTD cut its holdings in Colgate-Palmolive (NYSE:CL) by 56.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,279,669 shares of the company’s stock after selling 1,682,014 shares during the quarter. Investec Asset Management LTD’s holdings in Colgate-Palmolive were worth $93,224,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Jacobi Capital Management LLC increased its stake in Colgate-Palmolive by 125.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after purchasing an additional 803 shares in the last quarter. Krilogy Financial LLC increased its stake in Colgate-Palmolive by 23.0% in the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after purchasing an additional 70 shares in the last quarter. Captrust Financial Advisors purchased a new position in Colgate-Palmolive in the 2nd quarter worth about $122,000. Finally, AlphaMark Advisors LLC increased its stake in Colgate-Palmolive by 1.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.
A number of equities analysts recently weighed in on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, September 25th. SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Royal Bank of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Finally, Jefferies Group reissued a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $76.51.
In related news, CMO Mukul Deoras sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $73.28, for a total value of $549,600.00. Following the completion of the sale, the chief marketing officer now owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Daniels sold 902 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of 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 have sold 181,950 shares of company stock worth $13,237,385. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE CL) opened at $74.55 on Friday. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The firm has a market capitalization of $65,460.00, a PE ratio of 28.78, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. equities research analysts forecast that Colgate-Palmolive will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 61.78%.
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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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