Westpac Banking Corp Sells 48,022 Shares of Colgate-Palmolive Company (CL)
Westpac Banking Corp lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 17.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,173 shares of the company’s stock after selling 48,022 shares during the period. Westpac Banking Corp’s holdings in Colgate-Palmolive were worth $16,989,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its stake in Colgate-Palmolive by 84.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after acquiring an additional 2,082,262 shares during the period. Principal Financial Group Inc. increased its stake in Colgate-Palmolive by 45.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,843,728 shares of the company’s stock worth $136,676,000 after acquiring an additional 572,720 shares during the period. MARSHALL WACE ASIA Ltd increased its stake in Colgate-Palmolive by 1,419.1% during the 2nd quarter. MARSHALL WACE ASIA Ltd now owns 518,823 shares of the company’s stock worth $38,393,000 after acquiring an additional 484,670 shares during the period. British Airways Pensions Investment Management Ltd bought a new position in Colgate-Palmolive during the 2nd quarter worth $34,347,000. Finally, Pioneer Investment Management Inc. increased its stake in Colgate-Palmolive by 27.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 2,061,196 shares of the company’s stock worth $152,796,000 after acquiring an additional 447,949 shares during the period. Institutional investors own 73.45% of the company’s stock.
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A number of research firms have commented on CL. SunTrust Banks, Inc. upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. Citigroup Inc lowered their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus set a $73.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Finally, Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $76.67.
Shares of Colgate-Palmolive Company (CL) opened at $70.15 on Friday. The firm has a market cap of $62.29 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 3.25 and a beta of 0.80. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.34.
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 Thomson Reuters’ consensus estimate 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 the consensus estimate of $3.94 billion. During the same quarter last year, the business posted $0.73 EPS. Colgate-Palmolive’s revenue for the quarter was up 2.8% on a year-over-year basis. equities research analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 61.78%.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the transaction, the insider now directly owns 53,173 shares of the company’s stock, valued at approximately $3,799,210.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Franck J. Moison sold 35,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.52, for a total value of $2,503,200.00. Following the transaction, the insider now directly owns 201,411 shares in the company, valued at $14,404,914.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,833 shares of company stock worth $3,776,108. 1.02% of the stock is currently owned by company insiders.
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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