Colgate-Palmolive Company (CL) Shares Sold by Columbia Asset Management
Columbia Asset Management reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,490 shares of the company’s stock after selling 200 shares during the period. Columbia Asset Management’s holdings in Colgate-Palmolive were worth $548,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. raised its stake in shares of Colgate-Palmolive by 28.1% in the first quarter. Stock Yards Bank & Trust Co. now owns 11,844 shares of the company’s stock worth $867,000 after buying an additional 2,600 shares during the last quarter. Burke & Herbert Bank & Trust Co. raised its stake in shares of Colgate-Palmolive by 0.5% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 7,020 shares of the company’s stock worth $514,000 after buying an additional 37 shares during the last quarter. Creative Planning raised its stake in shares of Colgate-Palmolive by 2.7% in the first quarter. Creative Planning now owns 101,951 shares of the company’s stock worth $7,462,000 after buying an additional 2,716 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Colgate-Palmolive by 10.1% in the first quarter. Raymond James Trust N.A. now owns 21,407 shares of the company’s stock worth $1,567,000 after buying an additional 1,968 shares during the last quarter. Finally, Northstar Group Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the first quarter. Northstar Group Inc. now owns 4,850 shares of the company’s stock worth $356,000 after buying an additional 20 shares during the last quarter. 73.85% of the stock is currently owned by institutional investors.
Colgate-Palmolive Company (NYSE CL) traded down 0.03% during mid-day trading on Wednesday, hitting $71.68. The stock had a trading volume of 390,889 shares. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a market cap of $63.14 billion, a price-to-earnings ratio of 26.64 and a beta of 0.80. The company has a 50 day moving average price of $73.49 and a 200-day moving average price of $72.60.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
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A number of brokerages have issued reports on CL. Bank of America Corporation boosted their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Vetr lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 target price on the stock. in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Thursday, May 25th. Finally, Jefferies Group LLC began coverage on Colgate-Palmolive in a research report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $75.82.
In other news, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the transaction, the chief financial officer now owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.52, for a total transaction of $2,503,200.00. Following the completion of the transaction, the insider now directly owns 201,411 shares in the company, valued at approximately $14,404,914.72. The disclosure for this sale can be found here. In the last three months, insiders sold 203,969 shares of company stock worth $14,711,068. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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