Cypress Capital Group Sells 1,587 Shares of Colgate-Palmolive (NYSE:CL)
Cypress Capital Group trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,727 shares of the company’s stock after selling 1,587 shares during the quarter. Cypress Capital Group’s holdings in Colgate-Palmolive were worth $2,406,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC boosted its position in shares of Colgate-Palmolive by 16,117.1% in the second quarter. Nuveen Asset Management LLC now owns 6,435,107 shares of the company’s stock worth $461,204,000 after purchasing an additional 6,395,426 shares during the period. Invesco Ltd. boosted its position in shares of Colgate-Palmolive by 201.8% in the second quarter. Invesco Ltd. now owns 8,642,044 shares of the company’s stock worth $619,374,000 after purchasing an additional 5,778,145 shares during the period. FMR LLC boosted its position in shares of Colgate-Palmolive by 29.1% in the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after purchasing an additional 1,665,348 shares during the period. AQR Capital Management LLC boosted its position in shares of Colgate-Palmolive by 52.2% in the second quarter. AQR Capital Management LLC now owns 3,485,442 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,195,074 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,502,840 shares of the company’s stock worth $5,482,958,000 after purchasing an additional 1,056,530 shares during the period. Institutional investors own 75.95% of the company’s stock.
Several research firms have recently commented on CL. Citigroup boosted their target price on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Friday, July 12th. Piper Jaffray Companies began coverage on shares of Colgate-Palmolive in a report on Tuesday, August 13th. They issued an “overweight” rating on the stock. ValuEngine downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley boosted their target price on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $74.07.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. Colgate-Palmolive’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. As a group, equities analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is 57.91%.
In related news, insider Prabha Parameswaran sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $69.35, for a total transaction of $346,750.00. Following the sale, the insider now owns 20,893 shares of the company’s stock, valued at $1,448,929.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ian M. Cook sold 19,500 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $73.05, for a total transaction of $1,424,475.00. Following the sale, the chairman now directly owns 1,030,575 shares in the company, valued at approximately $75,283,503.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 569,298 shares of company stock worth $40,930,165. 1.14% of the stock is owned by insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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