Colgate-Palmolive Co. (CL) Stake Lowered by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado reduced its position in Colgate-Palmolive Co. (NYSE:CL) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,666 shares of the company’s stock after selling 12,746 shares during the period. Public Employees Retirement Association of Colorado owned 0.10% of Colgate-Palmolive worth $67,466,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Tompkins Financial Corp raised its stake in shares of Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock worth $124,000 after buying an additional 930 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock worth $132,000 after buying an additional 400 shares in the last quarter. FCM Investments TX acquired a new stake in shares of Colgate-Palmolive during the second quarter worth $132,000. Orrstown Financial Services Inc. raised its stake in shares of Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock worth $167,000 after buying an additional 480 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Colgate-Palmolive during the second quarter worth $198,000. Hedge funds and other institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.44% during mid-day trading on Wednesday, hitting $72.52. The company had a trading volume of 1,155,962 shares. The company has a market capitalization of $64.65 billion, a price-to-earnings ratio of 46.70 and a beta of 0.63. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38. The company has a 50-day moving average price of $73.34 and a 200-day moving average price of $72.52.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.16%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 100.65%.
CL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, October 3rd. Citigroup Inc. lifted their price objective on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. JPMorgan Chase & Co. restated a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $75.00 target price (up previously from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.68.
In other Colgate-Palmolive news, COO Noel R. Wallace sold 78,849 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the completion of the sale, the chief operating officer now owns 236,295 shares in the company, valued at $17,648,873.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Patricia Verduin sold 3,666 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at approximately $4,094,057.96. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate 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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