Piedmont Investment Advisors LLC Cuts Holdings in Colgate-Palmolive (CL)
Piedmont Investment Advisors LLC lowered its stake in Colgate-Palmolive (NYSE:CL) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,157 shares of the company’s stock after selling 160 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $13,652,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CL. Krilogy Financial LLC raised its position in Colgate-Palmolive by 23.0% during the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after acquiring an additional 289 shares in the last quarter. BB&T Investment Services Inc. bought a new stake in Colgate-Palmolive during the second quarter worth $353,000. Wilbanks Smith & Thomas Asset Management LLC raised its position in Colgate-Palmolive by 1.0% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 50,227 shares of the company’s stock worth $3,723,000 after acquiring an additional 494 shares in the last quarter. Security National Bank of SO Dak raised its position in Colgate-Palmolive by 0.4% during the second quarter. Security National Bank of SO Dak now owns 20,850 shares of the company’s stock worth $1,546,000 after acquiring an additional 85 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA raised its position in Colgate-Palmolive by 0.8% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 18,398 shares of the company’s stock worth $1,364,000 after acquiring an additional 155 shares in the last quarter. 72.96% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total transaction of $730,700.00. Following the completion of the sale, the insider now owns 60,528 shares of the company’s stock, valued at approximately $4,422,780.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria L. Dolan sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The disclosure for this sale can be found here. Insiders have sold a total of 173,673 shares of company stock valued at $12,629,293 in the last three months. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) opened at $73.32 on Friday. The stock has a market cap of $64,277.30, a P/E ratio of 25.50, a P/E/G ratio of 3.35 and a beta of 0.81. Colgate-Palmolive has a fifty-two week low of $63.43 and a fifty-two week high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.73. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.73 EPS. equities analysts expect that Colgate-Palmolive will post 2.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
Several research firms have commented on CL. Jefferies Group reiterated a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a report on Thursday, September 28th. Societe Generale downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective on the stock. in a report on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a research note on Saturday, November 25th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Macquarie began coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.04.
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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