Bradley Foster & Sargent Inc. CT Cuts Position in Colgate-Palmolive Co. (CL)
Bradley Foster & Sargent Inc. CT cut its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,254 shares of the company’s stock after selling 4,458 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Colgate-Palmolive were worth $15,171,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CL. National Pension Service boosted its position in Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock valued at $31,652,000 after buying an additional 17,928 shares in the last quarter. Legal & General Group Plc boosted its position in Colgate-Palmolive by 1.3% in the first quarter. Legal & General Group Plc now owns 3,953,265 shares of the company’s stock valued at $279,300,000 after buying an additional 50,393 shares in the last quarter. Aviva PLC boosted its position in Colgate-Palmolive by 1.3% in the first quarter. Aviva PLC now owns 531,710 shares of the company’s stock valued at $37,565,000 after buying an additional 7,069 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in Colgate-Palmolive during the first quarter valued at about $332,000. Finally, Tompkins Financial Corp boosted its position in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock valued at $124,000 after buying an additional 930 shares in the last quarter. Institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.59% during midday trading on Thursday, reaching $73.43. The company had a trading volume of 1,287,336 shares. Colgate-Palmolive Co. has a 12-month low of $61.40 and a 12-month high of $75.38. The stock’s 50 day moving average is $73.90 and its 200-day moving average is $72.09. The stock has a market capitalization of $65.46 billion, a PE ratio of 47.28 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The business earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Co. will post $2.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is 100.65%.
Several equities analysts recently issued reports on CL shares. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price target for the company from $70.86 to $80.00 in a report on Monday, September 12th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday. KeyCorp started coverage on Colgate-Palmolive in a report on Thursday, September 8th. They issued a “sector weight” rating on the stock. Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $74.46.
In other news, CTO Patricia Verduin sold 3,666 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the completion of the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at $4,094,057.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen M. Hancock sold 4,584 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.82, for a total value of $342,974.88. Following the completion of the sale, the director now directly owns 203,632 shares of the company’s stock, valued at approximately $15,235,746.24. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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