Colgate-Palmolive Co. (CL) Stake Increased by BTIM Corp.
BTIM Corp. boosted its stake in Colgate-Palmolive Co. (NYSE:CL) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 572,648 shares of the company’s stock after buying an additional 6,065 shares during the period. BTIM Corp. owned approximately 0.06% of Colgate-Palmolive worth $41,918,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Wellington Management Group LLP increased its position in Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock valued at $2,900,908,000 after buying an additional 7,453,260 shares during the period. Emerald Acquisition Ltd. bought a new position in Colgate-Palmolive during the second quarter valued at approximately $214,435,000. Ameriprise Financial Inc. increased its position in Colgate-Palmolive by 142.6% in the second quarter. Ameriprise Financial Inc. now owns 1,881,639 shares of the company’s stock valued at $137,710,000 after buying an additional 1,106,185 shares during the period. Bank of Montreal Can bought a new position in Colgate-Palmolive during the second quarter valued at approximately $64,888,000. Finally, State Street Corp increased its position in Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock valued at $4,403,835,000 after buying an additional 742,556 shares during the period. 72.97% of the stock is owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.59% during trading on Thursday, hitting $73.43. 1,287,336 shares of the stock were exchanged. The stock has a market cap of $65.46 billion, a P/E ratio of 47.28 and a beta of 0.59. The stock’s 50 day moving average price is $73.90 and its 200 day moving average price is $72.09. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. Colgate-Palmolive’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. Analysts forecast that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be issued a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s payout ratio is 100.65%.
CL has been the topic of several recent research reports. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.86 to $80.00 in a research report on Monday, September 12th. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. Exane BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG restated a “hold” rating and set a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.46.
In other Colgate-Palmolive news, COO Franck J. Moison sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $75.16, for a total value of $1,127,400.00. Following the transaction, the chief operating officer now directly owns 188,029 shares in the company, valued at approximately $14,132,259.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Noel R. Wallace sold 78,849 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the completion of the transaction, the chief operating officer now owns 236,295 shares in the company, valued at $17,648,873.55. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
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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