Westpac Banking Corp Has $16.23 Million Stake in Colgate-Palmolive Company (CL)
Westpac Banking Corp lowered its position in Colgate-Palmolive Company (NYSE:CL) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,759 shares of the company’s stock after selling 34,149 shares during the period. Westpac Banking Corp’s holdings in Colgate-Palmolive were worth $16,232,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH increased its position in shares of Colgate-Palmolive by 0.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 18,458 shares of the company’s stock worth $1,351,000 after buying an additional 55 shares during the last quarter. Matrix Asset Advisors Inc. NY acquired a new position in shares of Colgate-Palmolive during the first quarter worth about $203,000. Sullivan Bruyette Speros & Blaney LLC increased its position in shares of Colgate-Palmolive by 12.8% in the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 5,785 shares of the company’s stock worth $423,000 after buying an additional 656 shares during the last quarter. Bancorpsouth Inc. increased its position in shares of Colgate-Palmolive by 4.6% in the first quarter. Bancorpsouth Inc. now owns 6,648 shares of the company’s stock worth $487,000 after buying an additional 295 shares during the last quarter. Finally, Noesis Capital Mangement Corp acquired a new position in shares of Colgate-Palmolive during the first quarter worth about $340,000. Institutional investors own 73.15% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) traded down 0.20% during trading on Monday, hitting $71.01. The company had a trading volume of 341,256 shares. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm’s 50 day moving average is $71.99 and its 200-day moving average is $73.12. The stock has a market capitalization of $62.55 billion, a price-to-earnings ratio of 26.39 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company earned $0.70 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were issued a $0.40 dividend. The ex-dividend date was Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
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A number of equities analysts have recently issued reports on CL shares. Bank of America Corporation upped their price target on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, July 4th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. BidaskClub downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $76.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, COO Justin Skala sold 74,374 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the transaction, the chief operating officer now owns 97,177 shares of the company’s stock, valued at approximately $7,046,304.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were 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 in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,802 shares of company stock worth $15,983,976. Corporate insiders own 1.02% of the company’s stock.
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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