Mirae Asset Global Investments Co. Ltd. Sells 15,304 Shares of Colgate-Palmolive Company (NYSE:CL)
Mirae Asset Global Investments Co. Ltd. cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 80.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,707 shares of the company’s stock after selling 15,304 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Colgate-Palmolive were worth $271,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vision Capital Management Inc. raised its position in Colgate-Palmolive by 181.0% in the first quarter. Vision Capital Management Inc. now owns 17,310 shares of the company’s stock worth $1,267,000 after buying an additional 11,150 shares during the period. Hamel Associates Inc. raised its position in Colgate-Palmolive by 150.0% in the first quarter. Hamel Associates Inc. now owns 54,130 shares of the company’s stock worth $3,961,000 after buying an additional 32,475 shares during the period. Independence Trust CO raised its position in Colgate-Palmolive by 3.3% in the first quarter. Independence Trust CO now owns 41,274 shares of the company’s stock worth $3,021,000 after buying an additional 1,328 shares during the period. Assetmark Inc. raised its position in Colgate-Palmolive by 1.7% in the first quarter. Assetmark Inc. now owns 4,545 shares of the company’s stock worth $333,000 after buying an additional 75 shares during the period. Finally, Quantitative Investment Management LLC purchased a new position in Colgate-Palmolive during the first quarter worth approximately $10,956,000. Institutional investors and hedge funds own 73.69% of the company’s stock.
Colgate-Palmolive Company (NYSE CL) traded down 0.39% during mid-day trading on Friday, reaching $71.02. 3,317,565 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.30 and a 200-day moving average price of $72.91. The stock has a market capitalization of $62.56 billion, a PE ratio of 26.39 and a beta of 0.80. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the company posted $0.70 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive’s payout ratio is currently 59.48%.
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CL has been the subject of a number of recent analyst reports. Bank of America Corporation boosted their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Tuesday, July 4th. BidaskClub lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Monday, April 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $75.82.
In related news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the transaction, the insider now directly owns 53,173 shares of the company’s stock, valued at approximately $3,799,210.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the transaction, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The disclosure for this sale can be found here. Insiders sold a total of 221,802 shares of company stock valued at $15,983,976 over the last three months. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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