Colgate-Palmolive Co. (CL) Stake Reduced by Eads & Heald Investment Counsel
Eads & Heald Investment Counsel reduced its position in Colgate-Palmolive Co. (NYSE:CL) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 28,618 shares of the company’s stock after selling 216 shares during the period. Colgate-Palmolive comprises 1.4% of Eads & Heald Investment Counsel’s investment portfolio, making the stock its 8th largest position. Eads & Heald Investment Counsel’s holdings in Colgate-Palmolive were worth $2,095,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the company. 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 during 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 during the last quarter. Nisa Investment Advisors LLC boosted its position in Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock valued at $21,153,000 after buying an additional 13,835 shares during the last quarter. Artemis Investment Management LLP boosted its position in Colgate-Palmolive by 30.3% in the second quarter. Artemis Investment Management LLP now owns 275,846 shares of the company’s stock valued at $20,188,000 after buying an additional 64,100 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Colgate-Palmolive during the second quarter valued at approximately $64,888,000. Institutional investors and hedge funds own 72.95% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.31% during trading on Tuesday, hitting $72.30. The stock had a trading volume of 1,132,562 shares. The firm has a market cap of $64.45 billion, a P/E ratio of 46.56 and a beta of 0.63. The firm’s 50-day moving average is $73.08 and its 200-day moving average is $72.57. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. Equities research analysts forecast that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors 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 dividend on an annualized basis and a yield of 2.16%. Colgate-Palmolive’s dividend payout ratio (DPR) is 100.65%.
CL has been the subject of several analyst reports. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. KeyCorp started coverage on Colgate-Palmolive in a research note on Thursday, September 8th. They set a “sector weight” rating for the company. Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report 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 report on Sunday, July 24th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently 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 that occurred on Thursday, September 15th. The stock was 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 directly owns 55,013 shares in the company, valued at $3,952,684.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Franck J. Moison sold 15,000 shares of Colgate-Palmolive stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 188,029 shares of the company’s stock, valued at $14,132,259.64. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate 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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