Meeder Asset Management Inc. Has $1,088,000 Position in Colgate-Palmolive Co. (CL)
Meeder Asset Management Inc. boosted its stake in Colgate-Palmolive Co. (NYSE:CL) by 15.9% during the second quarter, Holdings Channel reports. The institutional investor owned 14,870 shares of the company’s stock after buying an additional 2,035 shares during the period. Meeder Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,088,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carroll Financial Associates Inc. raised its position in shares of Colgate-Palmolive by 7.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,231 shares of the company’s stock valued at $369,000 after buying an additional 362 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of Colgate-Palmolive by 2.8% in the first quarter. Bridges Investment Management Inc. now owns 18,983 shares of the company’s stock valued at $1,242,000 after buying an additional 517 shares during the last quarter. Forte Capital LLC ADV bought a new position in shares of Colgate-Palmolive during the first quarter valued at $330,000. Douglas Lane & Associates LLC bought a new position in shares of Colgate-Palmolive during the first quarter valued at $13,008,000. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Colgate-Palmolive by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 52,651 shares of the company’s stock valued at $3,720,000 after buying an additional 148 shares during the last quarter. 72.97% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% during trading on Friday, reaching $74.14. 4,652,275 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $73.67 and its 200-day moving average price is $72.34. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The stock has a market capitalization of $66.10 billion, a price-to-earnings ratio of 47.74 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $0.70 EPS. Colgate-Palmolive’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that Colgate-Palmolive Co. will post $2.80 EPS for the current year.
The firm also recently disclosed 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 2.10%. Colgate-Palmolive’s dividend payout ratio is currently 100.65%.
CL has been the topic of several recent analyst reports. Goldman Sachs Group Inc. restated a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price target (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. B. Riley reiterated a “neutral” rating and issued a $71.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research report on Friday, July 29th. Finally, Citigroup Inc. increased their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Fifteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $74.46.
In other news, COO Noel R. Wallace sold 78,849 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total value of $5,889,231.81. Following the transaction, the chief operating officer now directly owns 236,295 shares of the company’s stock, valued at $17,648,873.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen M. Hancock sold 4,584 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total transaction of $342,974.88. Following the completion of the transaction, the director now directly owns 203,632 shares in the company, valued at $15,235,746.24. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by 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.
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Co. (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Co. and related companies with MarketBeat.com's FREE daily email newsletter.