Nippon Life Insurance Co. Decreases Holdings in Colgate-Palmolive (CL)
Nippon Life Insurance Co. cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 418,450 shares of the company’s stock after selling 29,036 shares during the quarter. Colgate-Palmolive comprises 0.7% of Nippon Life Insurance Co.’s holdings, making the stock its 21st biggest position. Nippon Life Insurance Co.’s holdings in Colgate-Palmolive were worth $31,572,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after acquiring an additional 803 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of Colgate-Palmolive by 23.0% in the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after purchasing an additional 289 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Colgate-Palmolive in the second quarter valued at $122,000. Bruderman Asset Management LLC purchased a new stake in shares of Colgate-Palmolive in the second quarter valued at $126,000. Finally, Calton & Associates Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $126,000. 71.52% of the stock is owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 902 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total transaction of $68,389.64. Following the transaction, the insider now directly owns 37,788 shares in the company, valued at $2,865,086.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel B. Marsili sold 5,692 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $70.19, for a total value of $399,521.48. Following the transaction, the insider now owns 41,677 shares in the company, valued at $2,925,308.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 463,082 shares of company stock valued at $32,983,130. 1.02% of the stock is owned by corporate insiders.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 26th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.75 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts predict that Colgate-Palmolive will post 3.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, January 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.31%. Colgate-Palmolive’s dividend payout ratio is 70.18%.
A number of research firms have recently issued reports on CL. Citigroup increased their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Jefferies Group restated a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a report on Friday, January 26th. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $77.91.
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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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