Colgate-Palmolive Co. (CL) is Tokio Marine Asset Management Co. Ltd.’s 6th Largest Position
Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,666 shares of the company’s stock after selling 5,280 shares during the period. Colgate-Palmolive comprises approximately 1.7% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 6th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $16,665,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Capital Fund Management S.A. bought a new position in Colgate-Palmolive during the second quarter worth $27,088,000. First Midwest Bank Trust Division boosted its position in Colgate-Palmolive by 0.9% in the second quarter. First Midwest Bank Trust Division now owns 11,264 shares of the company’s stock worth $825,000 after buying an additional 100 shares in the last quarter. Calamos Advisors LLC boosted its position in Colgate-Palmolive by 3.2% in the second quarter. Calamos Advisors LLC now owns 79,061 shares of the company’s stock worth $5,787,000 after buying an additional 2,469 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Colgate-Palmolive by 483.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 264,861 shares of the company’s stock worth $19,389,000 after buying an additional 219,459 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in Colgate-Palmolive by 30.3% in the second quarter. Artemis Investment Management LLP now owns 275,846 shares of the company’s stock worth $20,188,000 after buying an additional 64,100 shares in the last quarter. Hedge funds and other institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 1.11% during mid-day trading on Tuesday, hitting $72.80. 3,267,330 shares of the stock traded hands. The company has a market cap of $64.90 billion, a P/E ratio of 46.88 and a beta of 0.63. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The stock has a 50 day moving average price of $73.58 and a 200-day moving average price of $72.44.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. On average, analysts forecast that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be given a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is presently 100.65%.
A number of equities analysts have weighed in on CL shares. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Monday. Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 target price (up previously from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, B. Riley reaffirmed a “neutral” rating and set a $71.00 target price on shares of Colgate-Palmolive in a report on Wednesday, August 3rd. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $74.68.
In related news, Director Stephen I. Sadove sold 8,803 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $74.28, for a total transaction of $653,886.84. Following the sale, the director now owns 26,474 shares in the company, valued at $1,966,488.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Patricia Verduin sold 3,666 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $74.98, for a total transaction of $274,876.68. Following the sale, the chief technology officer now owns 54,602 shares in the company, valued at approximately $4,094,057.96. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
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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