Vantage Investment Advisors LLC Reduces Stake in Colgate-Palmolive Company (CL)
Vantage Investment Advisors LLC cut its position in Colgate-Palmolive Company (NYSE:CL) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,786 shares of the company’s stock after selling 1,600 shares during the period. Vantage Investment Advisors LLC’s holdings in Colgate-Palmolive Company were worth $355,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of CL. Quadrant Capital Group LLC increased its stake in Colgate-Palmolive Company by 200.6% in the third quarter. Quadrant Capital Group LLC now owns 1,485 shares of the company’s stock worth $103,000 after buying an additional 991 shares during the period. Krilogy Financial LLC increased its stake in Colgate-Palmolive Company by 3.2% in the second quarter. Krilogy Financial LLC now owns 1,504 shares of the company’s stock worth $110,000 after buying an additional 46 shares during the period. Bruderman Asset Management LLC increased its stake in Colgate-Palmolive Company by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 1,556 shares of the company’s stock worth $115,000 after buying an additional 4 shares during the period. Concannon Wealth Management LLC increased its stake in Colgate-Palmolive Company by 33.8% in the third quarter. Concannon Wealth Management LLC now owns 1,605 shares of the company’s stock worth $119,000 after buying an additional 405 shares during the period. Finally, Seven Eight Capital LLC acquired a new stake in Colgate-Palmolive Company during the second quarter worth $183,000. Hedge funds and other institutional investors own 71.67% of the company’s stock.
Shares of Colgate-Palmolive Company (NYSE:CL) traded up 0.05% during midday trading on Friday, hitting $65.88. 1,888,149 shares of the stock traded hands. The company has a market cap of $58.56 billion, a price-to-earnings ratio of 43.09 and a beta of 0.67. The stock has a 50-day moving average of $65.97 and a 200-day moving average of $70.95. Colgate-Palmolive Company has a 52-week low of $61.40 and a 52-week high of $75.38.
Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive Company had a net margin of 8.96% and a return on equity of 6,924.14%. The firm earned $3.87 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the business earned $0.80 earnings per share. Colgate-Palmolive Company’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post $2.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Monday, January 23rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, January 19th. Colgate-Palmolive Company’s payout ratio is currently 101.96%.
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A number of analysts have recently weighed in on the stock. RBC Capital Markets set a $71.00 target price on shares of Colgate-Palmolive Company and gave the stock a “hold” rating in a report on Monday, January 2nd. Barclays PLC reiterated a “hold” rating and set a $63.00 price target on shares of Colgate-Palmolive Company in a report on Tuesday. B. Riley reiterated a “neutral” rating and set a $78.00 price target on shares of Colgate-Palmolive Company in a report on Wednesday, November 2nd. Zacks Investment Research downgraded shares of Colgate-Palmolive Company from a “hold” rating to a “sell” rating in a report on Tuesday, December 27th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive Company in a report on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.59.
In related news, insider Jennifer Daniels sold 7,072 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $66.78, for a total transaction of $472,268.16. Following the completion of the sale, the insider now directly owns 37,463 shares in the company, valued at $2,501,779.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $72.39, for a total transaction of $277,543.26. Following the sale, the insider now owns 55,013 shares of the company’s stock, valued at $3,982,391.07. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
About Colgate-Palmolive Company
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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