Candriam Luxembourg S.C.A. Purchases 219,459 Shares of Colgate-Palmolive Co. (CL)
Candriam Luxembourg S.C.A. boosted its position in Colgate-Palmolive Co. (NYSE:CL) by 483.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,861 shares of the company’s stock after buying an additional 219,459 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Colgate-Palmolive were worth $19,389,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CL. Sanders Morris Harris Inc. purchased a new position in Colgate-Palmolive during the first quarter worth $276,000. Sii Investments Inc. WI purchased a new position in Colgate-Palmolive during the first quarter worth $348,000. Investment Centers of America Inc. increased its position in Colgate-Palmolive by 81.0% in the first quarter. Investment Centers of America Inc. now owns 13,268 shares of the company’s stock worth $938,000 after buying an additional 5,936 shares during the period. Wade G W & Inc. increased its position in Colgate-Palmolive by 5.3% in the first quarter. Wade G W & Inc. now owns 102,437 shares of the company’s stock worth $7,237,000 after buying an additional 5,149 shares during the period. Finally, Chesley Taft & Associates LLC increased its position in Colgate-Palmolive by 35.4% in the first quarter. Chesley Taft & Associates LLC now owns 26,802 shares of the company’s stock worth $1,894,000 after buying an additional 7,005 shares during the period. 72.97% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 1.16% during mid-day trading on Friday, hitting $74.14. The stock had a trading volume of 4,652,275 shares. The stock has a market capitalization of $66.10 billion, a P/E ratio of 47.74 and a beta of 0.59. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The company’s 50 day moving average is $73.67 and its 200-day moving average is $72.34.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. Colgate-Palmolive’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, analysts expect that Colgate-Palmolive Co. will post $2.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.10%. Colgate-Palmolive’s payout ratio is 100.65%.
A number of equities analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $71.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research note on Friday, July 29th. Finally, Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.46.
In other Colgate-Palmolive news, Director Ellen M. Hancock sold 4,584 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total value of $342,974.88. Following the transaction, the director now owns 203,632 shares of the company’s stock, valued at $15,235,746.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the transaction, the insider now directly owns 55,013 shares in the company, valued at approximately $3,952,684.05. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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