Edmond DE Rothschild Holding S.A. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 255.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,683 shares of the company’s stock after buying an additional 32,829 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Colgate-Palmolive were worth $3,716,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CL. Sigma Planning Corp boosted its holdings in Colgate-Palmolive by 35.2% in the 1st quarter. Sigma Planning Corp now owns 11,396 shares of the company’s stock valued at $898,000 after purchasing an additional 2,966 shares during the period. IndexIQ Advisors LLC boosted its holdings in Colgate-Palmolive by 14.4% in the 1st quarter. IndexIQ Advisors LLC now owns 13,706 shares of the company’s stock valued at $1,080,000 after purchasing an additional 1,720 shares during the period. Meridian Wealth Management LLC boosted its holdings in Colgate-Palmolive by 29.0% in the 1st quarter. Meridian Wealth Management LLC now owns 4,519 shares of the company’s stock valued at $356,000 after purchasing an additional 1,016 shares during the period. Alberta Investment Management Corp boosted its holdings in Colgate-Palmolive by 31.1% in the 1st quarter. Alberta Investment Management Corp now owns 124,500 shares of the company’s stock valued at $9,814,000 after purchasing an additional 29,500 shares during the period. Finally, Mariner LLC boosted its holdings in Colgate-Palmolive by 1.5% in the 1st quarter. Mariner LLC now owns 62,871 shares of the company’s stock valued at $4,956,000 after purchasing an additional 936 shares during the period. 76.28% of the stock is owned by institutional investors and hedge funds.
CL has been the subject of a number of recent research reports. Evercore ISI reissued a “buy” rating and issued a $95.00 price objective on shares of Colgate-Palmolive in a report on Sunday, June 20th. Deutsche Bank Aktiengesellschaft raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their price target for the stock from $84.00 to $86.00 in a report on Monday. UBS Group assumed coverage on shares of Colgate-Palmolive in a research report on Wednesday, June 23rd. They set a “buy” rating and a $95.00 price objective for the company. Finally, Credit Suisse Group raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $95.00 in a report on Wednesday, June 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $85.69.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 29th. The company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.24 billion. Colgate-Palmolive had a return on equity of 293.48% and a net margin of 15.98%. Colgate-Palmolive’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, research analysts forecast that Colgate-Palmolive will post 3.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 21st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, October 20th. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. Colgate-Palmolive’s dividend payout ratio is currently 58.82%.
In other Colgate-Palmolive news, insider Sally Massey sold 610 shares of Colgate-Palmolive stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $77.18, for a total transaction of $47,079.80. Following the transaction, the insider now directly owns 7,510 shares of the company’s stock, valued at approximately $579,621.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Daniels sold 20,290 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $79.11, for a total value of $1,605,141.90. The disclosure for this sale can be found here. Insiders have sold a total of 22,798 shares of company stock worth $1,800,304 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
Further Reading: Why Invest in High-Yield Dividend Stocks?
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.