Boston Common Asset Management LLC Boosts Stake in Colgate-Palmolive (CL)
Boston Common Asset Management LLC lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 36.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,677 shares of the company’s stock after acquiring an additional 24,932 shares during the quarter. Boston Common Asset Management LLC’s holdings in Colgate-Palmolive were worth $6,870,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CL. Vanguard Group Inc. boosted its stake in Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares during the period. Renaissance Technologies LLC boosted its stake in Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after purchasing an additional 2,903,800 shares during the period. First Eagle Investment Management LLC boosted its stake in Colgate-Palmolive by 2.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock worth $362,580,000 after purchasing an additional 108,850 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Colgate-Palmolive by 3.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,725,042 shares of the company’s stock worth $350,267,000 after purchasing an additional 170,053 shares during the period. Finally, Fiera Capital Corp boosted its stake in Colgate-Palmolive by 17.3% in the 2nd quarter. Fiera Capital Corp now owns 4,595,453 shares of the company’s stock worth $340,662,000 after purchasing an additional 677,657 shares during the period. Institutional investors own 73.22% of the company’s stock.
Shares of Colgate-Palmolive (NYSE CL) traded up $0.44 during midday trading on Friday, hitting $72.45. The company had a trading volume of 4,557,500 shares, compared to its average volume of 3,606,742. The stock has a market cap of $63,890.94, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.33 and a beta of 0.80. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.73 EPS. sell-side analysts anticipate that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio is 61.78%.
Several research analysts have commented on CL shares. Jefferies Group restated a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a research note on Thursday, August 24th. Macquarie started coverage on Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 target price for the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $75.00 to $84.00 in a report on Monday, September 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a report on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $76.04.
In related news, CMO Mukul Deoras sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $73.28, for a total transaction of $549,600.00. Following the transaction, the chief marketing officer now directly owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,673 shares of company stock worth $12,629,293. 1.02% of the stock is currently owned by insiders.
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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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