Panagora Asset Management Inc. cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 932,779 shares of the company’s stock after selling 52,868 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.11% of Colgate-Palmolive worth $73,531,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CL. Altium Wealth Management LLC lifted its position in Colgate-Palmolive by 19.3% during the 4th quarter. Altium Wealth Management LLC now owns 6,115 shares of the company’s stock worth $523,000 after buying an additional 990 shares in the last quarter. Steel Peak Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $229,000. Daiwa Securities Group Inc. raised its holdings in shares of Colgate-Palmolive by 10.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 44,091 shares of the company’s stock valued at $3,770,000 after purchasing an additional 4,062 shares during the period. Maryland State Retirement & Pension System bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $1,085,000. Finally, Regentatlantic Capital LLC raised its holdings in shares of Colgate-Palmolive by 10.0% in the 4th quarter. Regentatlantic Capital LLC now owns 17,981 shares of the company’s stock valued at $1,538,000 after purchasing an additional 1,633 shares during the period. 76.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Stephen I. Sadove sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $81.30, for a total transaction of $650,400.00. Following the sale, the director now owns 11,324 shares in the company, valued at approximately $920,641.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John W. Kooyman sold 11,195 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $82.07, for a total transaction of $918,773.65. Following the completion of the sale, the insider now owns 19,251 shares in the company, valued at approximately $1,579,929.57. The disclosure for this sale can be found here. Insiders have sold a total of 91,040 shares of company stock worth $7,384,255 in the last quarter. 0.32% of the stock is currently owned by company insiders.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, April 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.28 billion. Colgate-Palmolive had a net margin of 15.92% and a return on equity of 298.80%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS. Equities analysts predict that Colgate-Palmolive will post 3.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Wednesday, July 21st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. Colgate-Palmolive’s dividend payout ratio is 58.82%.
A number of equities research analysts have recently issued reports on CL shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company a “hold” rating in a report on Monday, May 3rd. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, April 16th. Credit Suisse Group raised shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $95.00 in a report on Wednesday. Finally, Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 price target on the stock in a report on Monday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $84.42.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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