Colgate-Palmolive Co. (CL) Stake Cut by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund cut its stake in Colgate-Palmolive Co. (NYSE:CL) by 37.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,392 shares of the company’s stock after selling 53,928 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Colgate-Palmolive were worth $6,776,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Babson Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 15.3% in the first quarter. Babson Capital Management LLC now owns 21,042 shares of the company’s stock valued at $1,487,000 after buying an additional 2,800 shares during the last quarter. Phocas Financial Corp. boosted its stake in shares of Colgate-Palmolive by 6.9% in the first quarter. Phocas Financial Corp. now owns 7,780 shares of the company’s stock valued at $550,000 after buying an additional 500 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its stake in shares of Colgate-Palmolive by 0.3% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 35,117 shares of the company’s stock valued at $2,571,000 after buying an additional 116 shares during the last quarter. Howland Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 8.5% in the second quarter. Howland Capital Management LLC now owns 191,017 shares of the company’s stock valued at $13,982,000 after buying an additional 14,929 shares during the last quarter. Finally, Baxter Bros Inc. bought a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $5,051,000. 71.73% of the stock is owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.15% during trading on Monday, hitting $66.43. 3,059,571 shares of the stock were exchanged. The stock has a market cap of $59.05 billion, a P/E ratio of 43.45 and a beta of 0.73. The stock’s 50 day moving average price is $69.86 and its 200 day moving average price is $72.23. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. Colgate-Palmolive’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. Analysts forecast that Colgate-Palmolive Co. will post $2.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 24th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.34%. Colgate-Palmolive’s payout ratio is presently 101.96%.
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CL has been the topic of several recent research reports. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.86 to $80.00 in a research report on Monday, September 12th. Wells Fargo & Co. restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Tuesday, November 15th. KeyCorp initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. Finally, B. Riley restated a “neutral” rating and set a $78.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, November 2nd. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Colgate-Palmolive presently 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 Colgate-Palmolive stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $72.39, for a total transaction of $277,543.26. Following the transaction, the insider now directly owns 55,013 shares of the company’s stock, valued at $3,982,391.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.
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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