Roosevelt Investment Group Inc. Takes Position in Colgate-Palmolive Company (CL)
Roosevelt Investment Group Inc. acquired a new stake in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,082 shares of the company’s stock, valued at approximately $1,044,000.
Several other hedge funds also recently modified their holdings of the company. First Eagle Investment Management LLC lifted its holdings in shares of Colgate-Palmolive by 2.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock valued at $362,580,000 after buying an additional 108,850 shares during the period. Fiera Capital Corp raised its holdings in Colgate-Palmolive by 17.3% in the 2nd quarter. Fiera Capital Corp now owns 4,595,453 shares of the company’s stock worth $340,662,000 after purchasing an additional 677,657 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Colgate-Palmolive by 84.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after purchasing an additional 2,082,262 shares during the period. Legal & General Group Plc raised its holdings in Colgate-Palmolive by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 4,390,317 shares of the company’s stock worth $325,461,000 after purchasing an additional 96,427 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Colgate-Palmolive by 1.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,474,194 shares of the company’s stock worth $254,277,000 after purchasing an additional 39,843 shares during the period. 73.87% of the stock is owned by institutional investors and hedge funds.
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Colgate-Palmolive Company (NYSE:CL) opened at $72.63 on Friday. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The company has a market capitalization of $63,645.07, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 3.32 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts predict that Colgate-Palmolive Company will post 2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 61.78%.
In related news, COO Justin Skala sold 126,393 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total value of $9,222,897.21. Following the transaction, the chief operating officer now owns 262,361 shares of the company’s stock, valued at $19,144,482.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $73.28, for a total value of $549,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 45,217 shares in the company, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,673 shares of company stock worth $12,629,293. Insiders own 1.02% of the company’s stock.
A number of equities analysts recently weighed in on the company. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 price target (up previously from $77.00) on shares of Colgate-Palmolive in a report on Monday, July 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target 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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