IFP Advisors Inc Has $2.28 Million Stake in Colgate-Palmolive Company (CL)
IFP Advisors Inc increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,760 shares of the company’s stock after buying an additional 1,071 shares during the quarter. IFP Advisors Inc’s holdings in Colgate-Palmolive were worth $2,280,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. raised its position in Colgate-Palmolive by 0.4% in the first quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock valued at $132,000 after purchasing an additional 8 shares during the period. Cue Financial Group Inc. raised its position in Colgate-Palmolive by 0.3% in the second quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after purchasing an additional 14 shares during the period. Cornerstone Financial Partners LLC raised its position in Colgate-Palmolive by 0.5% in the second quarter. Cornerstone Financial Partners LLC now owns 3,813 shares of the company’s stock valued at $282,000 after purchasing an additional 19 shares during the period. M Holdings Securities Inc. raised its position in Colgate-Palmolive by 0.4% in the first quarter. M Holdings Securities Inc. now owns 5,366 shares of the company’s stock valued at $393,000 after purchasing an additional 21 shares during the period. Finally, Capital Investment Advisors LLC raised its position in Colgate-Palmolive by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 8,318 shares of the company’s stock valued at $617,000 after purchasing an additional 27 shares during the period. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday. Jefferies Group LLC reissued a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $75.00 to $84.00 in a research report on Monday, September 25th. Macquarie assumed coverage on Colgate-Palmolive in a research report on Thursday, September 14th. They issued a “neutral” rating and a $76.00 target price on the stock. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $76.31.
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In related news, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction 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 of the company’s stock, valued at approximately $6,322,353.28. The transaction 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 Colgate-Palmolive stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the sale, the insider now directly owns 53,173 shares in the company, valued at approximately $3,799,210.85. The disclosure for this sale can be found here. In the last three months, insiders sold 217,969 shares of company stock worth $15,693,933. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) opened at 73.21 on Friday. The firm has a market cap of $64.49 billion, a P/E ratio of 27.21 and a beta of 0.81. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The company’s 50 day moving average is $71.95 and its 200-day moving average is $73.18.
Colgate-Palmolive (NYSE:CL) last issued its 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 business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
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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