Oppenheimer Asset Management Inc. Buys Shares of 58,239 Colgate-Palmolive Company (CL)
Oppenheimer Asset Management Inc. bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,239 shares of the company’s stock, valued at approximately $4,263,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its position in shares of Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after buying an additional 2,082,262 shares in the last quarter. Swiss National Bank raised its position in shares of Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares in the last quarter. Karp Capital Management Corp raised its position in shares of Colgate-Palmolive by 3,749.4% in the first quarter. Karp Capital Management Corp now owns 381,210 shares of the company’s stock valued at $27,901,000 after buying an additional 371,307 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Colgate-Palmolive by 25.4% in the first quarter. Teachers Advisors LLC now owns 1,814,250 shares of the company’s stock valued at $132,785,000 after buying an additional 367,977 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Colgate-Palmolive by 42.6% in the first quarter. FIL Ltd now owns 1,092,839 shares of the company’s stock valued at $79,985,000 after buying an additional 326,668 shares in the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Company (NYSE CL) traded down 0.22% during mid-day trading on Thursday, hitting $71.41. The stock had a trading volume of 370,589 shares. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The stock’s 50-day moving average is $73.08 and its 200 day moving average is $72.72. The firm has a market capitalization of $62.90 billion, a price-to-earnings ratio of 26.54 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s payout ratio is currently 59.48%.
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CL has been the subject of several analyst reports. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $76.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, May 17th. Bank of America Corporation lifted their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Vetr lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price objective for the company. in a research report on Wednesday, May 17th. Finally, BidaskClub lowered Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $75.82.
In related news, Vice Chairman Franck J. Moison sold 35,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $14,404,914.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dennis J. Hickey sold 73,872 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the transaction, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,969 shares of company stock valued at $14,711,068. 1.02% of the stock is owned by insiders.
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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