Welch & Forbes LLC Raises Stake in Colgate-Palmolive Co. (CL)
Welch & Forbes LLC increased its position in Colgate-Palmolive Co. (NYSE:CL) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,822 shares of the company’s stock after buying an additional 2,730 shares during the period. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $6,734,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CL. Alpha Windward LLC raised its position in shares of Colgate-Palmolive by 0.5% in the third quarter. Alpha Windward LLC now owns 2,741 shares of the company’s stock worth $203,000 after buying an additional 13 shares during the period. Highland Private Wealth Management raised its position in shares of Colgate-Palmolive by 0.5% in the second quarter. Highland Private Wealth Management now owns 2,860 shares of the company’s stock worth $209,000 after buying an additional 14 shares during the period. Sunbelt Securities Inc. raised its position in shares of Colgate-Palmolive by 0.5% in the second quarter. Sunbelt Securities Inc. now owns 2,869 shares of the company’s stock worth $210,000 after buying an additional 15 shares during the period. Blue Chip Partners Inc. raised its position in shares of Colgate-Palmolive by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 3,191 shares of the company’s stock worth $234,000 after buying an additional 16 shares during the period. Finally, Northstar Group Inc. raised its position in shares of Colgate-Palmolive by 0.4% in the second quarter. Northstar Group Inc. now owns 4,994 shares of the company’s stock worth $366,000 after buying an additional 18 shares during the period. 71.73% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.18% during trading on Tuesday, reaching $66.55. 1,841,005 shares of the company’s stock were exchanged. The stock has a market cap of $59.15 billion, a PE ratio of 43.53 and a beta of 0.73. The firm has a 50 day moving average of $69.68 and a 200-day moving average of $72.19. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 6,924.14% and a net margin of 8.96%. The firm earned $3.87 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Colgate-Palmolive Co. will post $2.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.34%. Colgate-Palmolive’s payout ratio is currently 101.96%.
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Several research firms have issued reports on CL. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price target for the stock from $70.86 to $80.00 in a report on Monday, September 12th. KeyCorp began coverage on shares of Colgate-Palmolive in a report on Thursday, September 8th. They set a “sector weight” rating for the company. B. Riley restated a “neutral” rating and set a $78.00 price target on shares of Colgate-Palmolive in a report on Wednesday, November 2nd. Wells Fargo & Co. restated a “market perform” rating on shares of Colgate-Palmolive in a report on Tuesday, November 15th. Finally, Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $76.04.
In related news, insider Patricia Verduin sold 3,834 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $72.39, for a total transaction of $277,543.26. Following the completion of the transaction, the insider now owns 55,013 shares in the company, valued at $3,982,391.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.05% of the stock is 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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