Vigilant Capital Management LLC Sells 906 Shares of Colgate-Palmolive (CL)
Vigilant Capital Management LLC cut its position in Colgate-Palmolive (NYSE:CL) by 6.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,472 shares of the company’s stock after selling 906 shares during the period. Vigilant Capital Management LLC’s holdings in Colgate-Palmolive were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $488,436,000. BlackRock Inc. increased its holdings in shares of Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after buying an additional 7,236,342 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Colgate-Palmolive by 5,779.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,625,533 shares of the company’s stock worth $95,000 after buying an additional 5,529,852 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Colgate-Palmolive by 405.4% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,283,928 shares of the company’s stock valued at $76,419,000 after buying an additional 1,029,873 shares in the last quarter. 76.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CL stock traded up $0.09 on Tuesday, hitting $68.11. 1,999,553 shares of the company’s stock traded hands, compared to its average volume of 3,925,452. The firm has a market cap of $58.40 billion, a P/E ratio of 22.93, a P/E/G ratio of 4.39 and a beta of 0.79. Colgate-Palmolive has a one year low of $57.41 and a one year high of $72.61. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.76 and a current ratio of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.57%.
In other news, VP Justin Skala sold 4,488 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.39, for a total transaction of $297,958.32. Following the completion of the sale, the vice president now owns 71,010 shares of the company’s stock, valued at $4,714,353.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John T. Cahill sold 5,780 shares of the stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $64.46, for a total value of $372,578.80. Following the sale, the director now directly owns 27,820 shares of the company’s stock, valued at approximately $1,793,277.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,450 shares of company stock worth $5,682,621. Company insiders own 1.02% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co restated a “hold” rating and set a $57.00 price target on shares of Colgate-Palmolive in a research report on Thursday, January 31st. Evercore ISI began coverage on Colgate-Palmolive in a research report on Thursday, January 10th. They set an “outperform” rating and a $70.00 price target on the stock. Citigroup set a $68.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, March 19th. Finally, Credit Suisse Group assumed coverage on Colgate-Palmolive in a report on Wednesday, March 6th. They issued an “underperform” rating for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $65.73.
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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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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