Meyer Handelman Co. Has $26.30 Million Stake in Colgate-Palmolive Company (CL)
Meyer Handelman Co. cut its stake in Colgate-Palmolive Company (NYSE:CL) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 354,736 shares of the company’s stock after selling 200 shares during the period. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $26,297,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. American Beacon Advisors Inc. purchased a new position in shares of Colgate-Palmolive during the first quarter valued at about $102,000. Proficio Capital Partners LLC increased its position in shares of Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at about $121,000. AlphaMark Advisors LLC increased its position in shares of Colgate-Palmolive by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after buying an additional 1,370 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the second quarter valued at about $131,000. Hedge funds and other institutional investors own 73.85% of the company’s stock.
Colgate-Palmolive Company (CL) traded down 0.41% on Friday, reaching $71.26. 2,023,502 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $72.84 and a 200 day moving average price of $72.74. The stock has a market cap of $62.77 billion, a price-to-earnings ratio of 26.48 and a beta of 0.80. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s payout ratio is 59.48%.
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A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, May 25th. UBS AG restated a “neutral” rating and set a $78.00 price objective (down previously from $79.00) on shares of Colgate-Palmolive in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $79.00 price objective (up previously from $77.00) on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two 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. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $75.82.
In related news, Vice Chairman Franck J. Moison sold 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.52, for a total value of $2,503,200.00. Following the completion of the transaction, the insider now directly owns 201,411 shares in the company, valued at approximately $14,404,914.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the completion of the transaction, the insider now owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,969 shares of company stock valued at $14,711,068. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
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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