SG Americas Securities LLC Boosts Holdings in Colgate-Palmolive Company (CL)
SG Americas Securities LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 166.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 108,986 shares of the company’s stock after purchasing an additional 273,410 shares during the period. SG Americas Securities LLC’s holdings in Colgate-Palmolive were worth $8,079,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive during the 1st quarter valued at about $102,000. Proficio Capital Partners LLC increased its position 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 period. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive during the 2nd quarter valued at about $109,000. Harbour Capital Advisors LLC purchased a new position in Colgate-Palmolive during the 1st quarter valued at about $121,000. Finally, Hanson & Doremus Investment Management increased its position in Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after purchasing an additional 70 shares during the period. 73.09% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts have commented on CL shares. Zacks Investment Research raised 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. SunTrust Banks, Inc. raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Jefferies Group LLC lifted their price objective on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research report on Friday, June 30th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price objective 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 issued a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $76.85.
In other Colgate-Palmolive news, Director John T. Cahill sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $72.47, for a total value of $579,760.00. Following the transaction, the director now directly owns 31,786 shares in the company, valued at $2,303,531.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the senior vice president now owns 88,598 shares in the company, valued at $6,322,353.28. The disclosure for this sale can be found here. Insiders sold 214,136 shares of company stock worth $15,416,385 over the last quarter. 1.02% of the stock is currently owned by insiders.
Shares of Colgate-Palmolive Company (CL) opened at 75.75 on Tuesday. The firm has a market capitalization of $66.72 billion, a PE ratio of 28.15 and a beta of 0.81. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a 50-day moving average of $72.45 and a 200-day moving average of $73.19.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.11%. Colgate-Palmolive’s dividend payout ratio is currently 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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