New Jersey Better Educational Savings Trust Invests $445,000 in Colgate-Palmolive Company (CL)
New Jersey Better Educational Savings Trust purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,000 shares of the company’s stock, valued at approximately $445,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CL. American Beacon Advisors Inc. bought a new stake in Colgate-Palmolive during the first quarter worth about $102,000. Proficio Capital Partners LLC boosted its stake in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after acquiring an additional 207 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Colgate-Palmolive during the second quarter worth about $109,000. Harbour Capital Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth about $121,000. Finally, Hanson & Doremus Investment Management boosted its stake in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 73.09% of the company’s stock.
Colgate-Palmolive Company (CL) opened at 74.73 on Thursday. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a market cap of $65.83 billion, a P/E ratio of 27.77 and a beta of 0.81. The company’s 50-day moving average is $72.15 and its 200-day moving average is $73.16.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. On average, equities research analysts expect that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
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In related news, COO Justin Skala sold 74,374 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the sale, the chief operating officer now directly owns 97,177 shares in the company, valued at approximately $7,046,304.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the sale, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock valued at $15,693,933 over the last quarter. 1.02% of the stock is owned by company insiders.
CL has been the topic of several research reports. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, August 24th. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. Macquarie initiated coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.31.
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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