Private Wealth Advisors Inc. Cuts Stake in Colgate-Palmolive Company (CL)
Private Wealth Advisors Inc. lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,039 shares of the company’s stock after selling 125 shares during the period. Private Wealth Advisors Inc.’s holdings in Colgate-Palmolive were worth $1,930,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CL. American Beacon Advisors Inc. bought a new stake in Colgate-Palmolive during the first quarter worth about $102,000. Proficio Capital Partners LLC boosted its stake in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after acquiring an additional 207 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Colgate-Palmolive during the second quarter worth about $109,000. Harbour Capital Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth about $121,000. Finally, Hanson & Doremus Investment Management boosted its stake in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after acquiring an additional 70 shares in the last quarter. 73.63% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Company (CL) opened at $73.21 on Friday. 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 Company has a twelve month low of $63.43 and a twelve month high of $77.27. The firm has a market cap of $64,022.66, a P/E ratio of 25.40, a PEG ratio of 3.34 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. analysts anticipate that Colgate-Palmolive Company will post 2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. Colgate-Palmolive’s payout ratio is 61.78%.
In related news, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the sale, the director now directly owns 36,268 shares in the company, valued at $2,557,619.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the sale, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several brokerages have issued reports on CL. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a report on Thursday, September 28th. Citigroup Inc. decreased their target price on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. Finally, Macquarie began coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They issued a “neutral” rating and a $76.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $76.67.
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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