British Columbia Investment Management Corp Has $36,497,000 Stake in Colgate-Palmolive Co. (CL)
British Columbia Investment Management Corp lowered its stake in Colgate-Palmolive Co. (NYSE:CL) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 492,277 shares of the company’s stock after selling 39,455 shares during the period. British Columbia Investment Management Corp owned about 0.06% of Colgate-Palmolive worth $36,497,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Fruth Investment Management acquired a new stake in Colgate-Palmolive during the second quarter valued at about $204,000. North Star Investment Management Corp. purchased a new stake in shares of Colgate-Palmolive during the second quarter worth $220,000. Peavine Capital Management LLC purchased a new stake in shares of Colgate-Palmolive during the second quarter worth $287,000. Northstar Group Inc. increased its stake 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. Finally, Svenska Handelsbanken AB publ increased its stake in shares of Colgate-Palmolive by 39.6% in the second quarter. Svenska Handelsbanken AB publ now owns 13,400 shares of the company’s stock worth $981,000 after buying an additional 3,800 shares during the period. Institutional investors own 71.73% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 1.11% on Wednesday, reaching $65.79. The company’s stock had a trading volume of 542,424 shares. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The stock has a 50-day moving average of $69.68 and a 200 day moving average of $72.19. The stock has a market capitalization of $58.48 billion, a price-to-earnings ratio of 43.03 and a beta of 0.73.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 6,924.14% and a net margin of 8.96%. The company earned $3.87 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive Co. will post $2.82 EPS for the current year.
The company 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 was Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.34%. Colgate-Palmolive’s dividend payout ratio is currently 101.96%.
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A number of brokerages have recently weighed in on CL. B. Riley reiterated a “neutral” rating and issued a $78.00 price target on shares of Colgate-Palmolive in a report on Wednesday, November 2nd. KeyCorp began coverage on Colgate-Palmolive in a report on Thursday, September 8th. They issued a “sector weight” rating for the company. Wells Fargo & Co. reiterated a “market perform” rating on shares of Colgate-Palmolive in a report on Tuesday, November 15th. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Monday, October 3rd. Finally, Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their price target for the company from $70.86 to $80.00 in a report on Monday, September 12th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.04.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the firm’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 value of $277,543.26. Following the completion of the sale, the insider now owns 55,013 shares in the company, valued at approximately $3,982,391.07. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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