Colgate-Palmolive Co. (CL) Shares Bought by Fundsmith LLP
Fundsmith LLP boosted its stake in Colgate-Palmolive Co. (NYSE:CL) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,384,087 shares of the company’s stock after buying an additional 90,358 shares during the period. Colgate-Palmolive comprises 1.6% of Fundsmith LLP’s holdings, making the stock its 17th largest position. Fundsmith LLP owned approximately 0.16% of Colgate-Palmolive worth $100,785,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Colgate-Palmolive by 1.8% in the second quarter. Vanguard Group Inc. now owns 60,839,484 shares of the company’s stock worth $4,453,451,000 after buying an additional 1,103,235 shares in the last quarter. FMR LLC raised its stake in Colgate-Palmolive by 0.8% in the second quarter. FMR LLC now owns 45,302,586 shares of the company’s stock worth $3,316,149,000 after buying an additional 373,487 shares during the period. BlackRock Fund Advisors raised its stake in Colgate-Palmolive by 2.1% in the second quarter. BlackRock Fund Advisors now owns 12,570,285 shares of the company’s stock worth $920,145,000 after buying an additional 256,189 shares during the period. Legal & General Group Plc raised its stake in Colgate-Palmolive by 6.1% in the second quarter. Legal & General Group Plc now owns 4,194,181 shares of the company’s stock worth $306,955,000 after buying an additional 240,916 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Colgate-Palmolive by 4.8% in the second quarter. TIAA CREF Investment Management LLC now owns 3,059,508 shares of the company’s stock worth $223,956,000 after buying an additional 138,905 shares during the period. 73.11% of the stock is currently owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) opened at 67.135 on Monday. The stock has a 50 day moving average price of $71.72 and a 200-day moving average price of $72.53. The company has a market capitalization of $59.67 billion, a price-to-earnings ratio of 43.908 and a beta of 0.73. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Equities analysts predict that Colgate-Palmolive Co. will post $2.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.31%. Colgate-Palmolive’s dividend payout ratio is currently 101.96%.
CL has been the topic of a number of research analyst reports. B. Riley reaffirmed a “neutral” rating and set a $78.00 target price on shares of Colgate-Palmolive in a report on Wednesday, November 2nd. 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. Citigroup Inc. increased their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, July 29th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a report on Friday, July 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $76.04.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $72.39, for a total value of $277,543.26. Following the transaction, the insider now directly owns 55,013 shares of the company’s stock, valued at approximately $3,982,391.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company 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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