Colgate-Palmolive Co. (CL) Shares Sold by Financial & Investment Management Group Ltd.
Financial & Investment Management Group Ltd. reduced its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 12,200 shares of the company’s stock after selling 2 shares during the period. Financial & Investment Management Group Ltd.’s holdings in Colgate-Palmolive were worth $893,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock worth $4,403,835,000 after buying an additional 742,556 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Colgate-Palmolive by 3.5% in the first quarter. BlackRock Fund Advisors now owns 12,314,096 shares of the company’s stock worth $869,991,000 after buying an additional 413,740 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Colgate-Palmolive by 1.4% in the first quarter. Geode Capital Management LLC now owns 7,235,633 shares of the company’s stock worth $510,171,000 after buying an additional 100,609 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. BlackRock Group LTD now owns 6,963,653 shares of the company’s stock worth $491,981,000 after buying an additional 81,398 shares in the last quarter. Institutional investors and hedge funds own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.31% on Friday, hitting $73.05. 3,316,007 shares of the company were exchanged. The firm’s 50-day moving average is $73.50 and its 200-day moving average is $72.45. The stock has a market capitalization of $65.12 billion, a PE ratio of 47.04 and a beta of 0.63. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts predict that Colgate-Palmolive Co. will post $2.79 earnings per share for the current year.
The company also recently disclosed 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 of this dividend is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s payout ratio is 100.65%.
CL has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Monday. Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Finally, B. Riley restated a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, August 3rd. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $74.68.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of Colgate-Palmolive stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the transaction, the insider now owns 55,013 shares of the company’s stock, valued at $3,952,684.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $74.93, for a total transaction of $1,049,020.00. Following the completion of the transaction, the senior vice president now directly owns 102,761 shares of the company’s stock, valued at approximately $7,699,881.73. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company 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.
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.