ING Groep NV Trims Stake in Colgate-Palmolive Company (CL)
ING Groep NV cut its position in Colgate-Palmolive Company (NYSE:CL) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,714 shares of the company’s stock after selling 4,937 shares during the period. ING Groep NV’s holdings in Colgate-Palmolive were worth $8,059,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $102,000. Proficio Capital Partners LLC boosted its stake in Colgate-Palmolive by 16.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after purchasing an additional 207 shares during the last quarter. OLD Second National Bank of Aurora acquired a new position in Colgate-Palmolive during the 2nd quarter valued at about $109,000. Harbour Capital Advisors LLC acquired a new position in Colgate-Palmolive during the 1st quarter valued at about $121,000. Finally, AlphaMark Advisors LLC boosted its stake in Colgate-Palmolive by 452.1% during the 1st quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after purchasing an additional 1,370 shares during the last quarter. Institutional investors own 73.16% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research note on Thursday, May 25th. BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, August 24th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $75.82.
In other news, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total transaction of $999,040.00. Following the sale, the senior vice president now owns 88,598 shares in the company, valued at $6,322,353.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the sale, the insider now owns 53,022 shares in the company, valued at approximately $3,839,323.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,802 shares of company stock worth $15,983,976. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) traded down 0.47% during trading on Monday, hitting $71.30. 2,132,416 shares of the company’s stock traded hands. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The stock has a market cap of $62.80 billion, a P/E ratio of 26.50 and a beta of 0.80. The company’s 50 day moving average is $71.78 and its 200-day moving average is $73.27.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting 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 firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, July 14th. Colgate-Palmolive’s payout ratio is 59.48%.
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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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