Colgate-Palmolive Co. (CL) Stake Reduced by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL reduced its position in Colgate-Palmolive Co. (NYSE:CL) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,491 shares of the company’s stock after selling 2,146 shares during the period. Gofen & Glossberg LLC IL’s holdings in Colgate-Palmolive were worth $12,418,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. WMS Partners LLC raised its position in shares of Colgate-Palmolive by 7.0% in the second quarter. WMS Partners LLC now owns 7,278 shares of the company’s stock worth $533,000 after buying an additional 474 shares during the period. Fundsmith LLP raised its position in shares of Colgate-Palmolive by 7.0% in the second quarter. Fundsmith LLP now owns 1,384,087 shares of the company’s stock worth $100,785,000 after buying an additional 90,358 shares during the period. BB&T Corp raised its position in shares of Colgate-Palmolive by 613.2% in the second quarter. BB&T Corp now owns 306,125 shares of the company’s stock worth $22,409,000 after buying an additional 263,205 shares during the period. Artemis Investment Management LLP raised its position in shares of 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 during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock worth $21,153,000 after buying an additional 13,835 shares during the period. 71.73% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.113% during mid-day trading on Monday, hitting $66.455. The company had a trading volume of 2,267,994 shares. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The firm’s 50-day moving average price is $69.87 and its 200 day moving average price is $72.23. The company has a market capitalization of $59.07 billion, a P/E ratio of 43.463 and a beta of 0.73.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Thursday, October 27th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. The firm earned $3.87 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Co. will post $2.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 101.96%.
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A number of equities analysts have issued reports on CL shares. B. Riley reaffirmed a “neutral” rating and set a $71.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, August 3rd. KeyCorp started coverage on Colgate-Palmolive in a research note on Thursday, September 8th. They set a “sector weight” rating for the company. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.86 to $80.00 in a research note on Monday, September 12th. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Tuesday, November 15th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $76.04.
In other news, insider Patricia Verduin sold 3,834 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were 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 owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.05% of the stock is currently owned by insiders.
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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