Colgate-Palmolive Company (CL) Stake Cut by Northstar Asset Management LLC
Northstar Asset Management LLC reduced its position in Colgate-Palmolive Company (NYSE:CL) by 44.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,730 shares of the company’s stock after selling 3,800 shares during the period. Northstar Asset Management LLC’s holdings in Colgate-Palmolive were worth $351,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Bridges Investment Counsel Inc. boosted its stake in Colgate-Palmolive by 89.6% in the second quarter. Bridges Investment Counsel Inc. now owns 18,766 shares of the company’s stock worth $1,391,000 after buying an additional 8,866 shares during the period. APG Asset Management N.V. boosted its stake in Colgate-Palmolive by 0.7% in the second quarter. APG Asset Management N.V. now owns 1,186,684 shares of the company’s stock worth $87,969,000 after buying an additional 8,300 shares during the period. Forsta AP Fonden boosted its stake in Colgate-Palmolive by 1.0% in the second quarter. Forsta AP Fonden now owns 130,386 shares of the company’s stock worth $9,666,000 after buying an additional 1,300 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Colgate-Palmolive by 69.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 12,863 shares of the company’s stock worth $954,000 after buying an additional 5,250 shares during the period. Finally, Rothschild Investment Corp IL boosted its stake in Colgate-Palmolive by 108.3% in the second quarter. Rothschild Investment Corp IL now owns 6,588 shares of the company’s stock worth $488,000 after buying an additional 3,425 shares during the period. Institutional investors own 73.69% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) traded down 0.50% during trading on Wednesday, hitting $71.28. 1,069,776 shares of the company traded hands. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm has a market cap of $62.79 billion, a price-to-earnings ratio of 26.49 and a beta of 0.80. The company’s 50-day moving average is $72.22 and its 200 day moving average is $73.07.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. On average, equities analysts anticipate that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. Colgate-Palmolive’s payout ratio is currently 59.48%.
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CL has been the subject of several research reports. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and set a $79.00 price objective (up from $77.00) on shares of Colgate-Palmolive in a research note on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research note on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Finally, BidaskClub cut shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.82.
In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total transaction of $290,043.11. Following the completion of the transaction, the insider now directly owns 53,022 shares in the company, valued at approximately $4,012,174.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Dennis J. Hickey sold 73,872 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total value of $5,304,009.60. Following the transaction, the chief financial officer now owns 484,985 shares of the company’s stock, valued at $34,821,923. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,802 shares of company stock valued at $15,983,976. 1.02% of the stock is owned by company insiders.
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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