Welch & Forbes LLC Raises Stake in Colgate-Palmolive Co. (CL)
Welch & Forbes LLC boosted its position in Colgate-Palmolive Co. (NYSE:CL) by 3.1% during the third quarter, Holdings Channel reports. The firm owned 90,822 shares of the company’s stock after buying an additional 2,730 shares during the period. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $6,734,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. WMS Partners LLC boosted its stake in Colgate-Palmolive by 7.0% in the second quarter. WMS Partners LLC now owns 7,278 shares of the company’s stock worth $533,000 after buying an additional 474 shares in the last quarter. Fundsmith LLP boosted its stake in Colgate-Palmolive by 7.0% in the second quarter. Fundsmith LLP now owns 1,384,087 shares of the company’s stock worth $100,785,000 after buying an additional 90,358 shares in the last quarter. BB&T Corp boosted its stake in Colgate-Palmolive by 613.2% in the second quarter. BB&T Corp now owns 306,125 shares of the company’s stock worth $22,409,000 after buying an additional 263,205 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Colgate-Palmolive by 30.3% in the second quarter. Artemis Investment Management LLP now owns 275,846 shares of the company’s stock worth $20,188,000 after buying an additional 64,100 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock worth $21,153,000 after buying an additional 13,835 shares in the last quarter. Institutional investors and hedge funds own 71.73% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.18% on Tuesday, hitting $66.55. The stock had a trading volume of 1,841,005 shares. The company has a market cap of $59.15 billion, a price-to-earnings ratio of 43.53 and a beta of 0.73. The company has a 50 day moving average price of $69.68 and a 200-day moving average price of $72.19. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 6,924.14% and a net margin of 8.96%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts predict that Colgate-Palmolive Co. will post $2.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 24th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.34%. Colgate-Palmolive’s dividend payout ratio (DPR) is 101.96%.
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A number of equities research analysts have 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 Wednesday, August 3rd. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Monday, October 3rd. KeyCorp assumed coverage on Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.86 to $80.00 in a research report on Monday, September 12th. Finally, Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Tuesday, November 15th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.04.
In related news, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total transaction of $275,472.90. Following the transaction, the insider now directly owns 55,013 shares in the company, valued at approximately $3,952,684.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.05% of the company’s stock.
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.
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