Colgate-Palmolive Company (CL) Position Reduced by Burney Co.
Burney Co. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 32.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,415 shares of the company’s stock after selling 1,650 shares during the period. Burney Co.’s holdings in Colgate-Palmolive were worth $250,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oarsman Capital Inc. raised its position in shares of Colgate-Palmolive by 15.1% in the first quarter. Oarsman Capital Inc. now owns 14,767 shares of the company’s stock worth $1,081,000 after buying an additional 1,940 shares during the last quarter. AXA raised its position in shares of Colgate-Palmolive by 0.4% in the first quarter. AXA now owns 888,029 shares of the company’s stock worth $64,995,000 after buying an additional 3,594 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Colgate-Palmolive by 4.2% in the first quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after buying an additional 77,414 shares during the last quarter. Choate Investment Advisors raised its position in shares of Colgate-Palmolive by 3.5% in the first quarter. Choate Investment Advisors now owns 35,769 shares of the company’s stock worth $2,618,000 after buying an additional 1,202 shares during the last quarter. Finally, ARGI Investment Services LLC raised its position in shares of Colgate-Palmolive by 10.3% in the first quarter. ARGI Investment Services LLC now owns 15,199 shares of the company’s stock worth $1,113,000 after buying an additional 1,421 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.
Shares of Colgate-Palmolive Company (CL) traded down 0.65% during midday trading on Wednesday, reaching $70.84. 660,431 shares of the company’s stock traded hands. The stock has a market cap of $62.40 billion, a P/E ratio of 26.32 and a beta of 0.80. The stock has a 50-day moving average price of $71.99 and a 200-day moving average price of $73.12. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, July 14th. Colgate-Palmolive’s payout ratio is 59.48%.
A number of equities analysts have recently issued reports on CL shares. Bank of America Corporation upped their target price on shares of 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 upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, July 4th. Wells Fargo & Co reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. BidaskClub lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $76.00 target price 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 given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.82.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 484,985 shares of the company’s stock, valued at $34,821,923. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $75.67, for a total value of $290,043.11. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at approximately $4,012,174.74. The disclosure for this sale can be found here. Insiders sold 221,802 shares of company stock valued at $15,983,976 in the last ninety days. 1.02% of the stock is currently owned by insiders.
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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