Nisa Investment Advisors LLC Raises Stake in Colgate-Palmolive Co. (CL)
Nisa Investment Advisors LLC boosted its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 5.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 288,977 shares of the company’s stock after buying an additional 13,835 shares during the period. Nisa Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $21,153,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $124,000 after buying an additional 930 shares in the last quarter. Fruth Investment Management purchased a new position in Colgate-Palmolive during the second quarter worth approximately $204,000. Highland Private Wealth Management purchased a new position in Colgate-Palmolive during the first quarter worth approximately $200,000. North Star Investment Management Corp. purchased a new position in Colgate-Palmolive during the second quarter worth approximately $220,000. Finally, Cohen Lawrence B purchased a new position in Colgate-Palmolive during the second quarter worth approximately $227,000. 72.97% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% during trading on Friday, hitting $74.14. 4,652,275 shares of the stock traded hands. The firm has a market cap of $66.10 billion, a PE ratio of 47.74 and a beta of 0.59. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38. The firm has a 50-day moving average price of $73.67 and a 200 day moving average price of $72.34.
Colgate-Palmolive (NYSE:CL) last posted its 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. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm 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 posted $0.70 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive Co. will post $2.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.10%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 100.65%.
A number of research analysts recently commented on the company. B. Riley reissued a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Citigroup Inc. increased their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, July 29th. KeyCorp began coverage on Colgate-Palmolive in a research note on Thursday, September 8th. They issued a “sector weight” rating on the stock. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research note on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price objective (up from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.46.
In other news, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.85, for a total value of $275,472.90. Following the sale, the insider now directly owns 55,013 shares in the company, valued at approximately $3,952,684.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Noel R. Wallace sold 78,849 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the completion of the sale, 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 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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