Migdal Insurance & Financial Holdings Ltd. Has $528,000 Stake in Colgate-Palmolive (CL)
Migdal Insurance & Financial Holdings Ltd. reduced its stake in Colgate-Palmolive (NYSE:CL) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,118 shares of the company’s stock after selling 358 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Colgate-Palmolive were worth $528,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive in the first quarter valued at $102,000. Proficio Capital Partners LLC increased its holdings in 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 during the last quarter. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive in the second quarter valued at $109,000. Harbour Capital Advisors LLC purchased a new position in Colgate-Palmolive in the first quarter valued at $121,000. Finally, Hanson & Doremus Investment Management increased its holdings in Colgate-Palmolive by 4.5% in the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 72.96% of the company’s stock.
Colgate-Palmolive (NYSE:CL) opened at $74.59 on Wednesday. The stock has a market capitalization of $65,436.40, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.41 and a beta of 0.81. Colgate-Palmolive has a twelve month low of $63.43 and a twelve month high of $77.27. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. sell-side analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
In related news, insider Victoria L. Dolan sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $73.07, for a total value of $730,700.00. Following the transaction, the insider now directly owns 60,528 shares in the company, valued at approximately $4,422,780.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,673 shares of company stock worth $12,629,293. Corporate insiders own 1.02% of the company’s stock.
Several equities analysts recently commented on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, October 23rd. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.04.
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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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