Colgate-Palmolive Company (CL) Holdings Lowered by Glassman Wealth Services
Glassman Wealth Services trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,621 shares of the company’s stock after selling 72 shares during the quarter. Colgate-Palmolive comprises 0.9% of Glassman Wealth Services’ holdings, making the stock its 14th biggest position. Glassman Wealth Services’ holdings in Colgate-Palmolive were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $102,000. Proficio Capital Partners LLC raised its holdings in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $109,000. Hanson & Doremus Investment Management raised its holdings in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after purchasing an additional 70 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $121,000. Institutional investors own 73.63% of the company’s stock.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total value of $273,867.85. Following the completion of the sale, the insider now directly owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total transaction of $999,040.00. Following the completion of the sale, the senior vice president now directly owns 88,598 shares of the company’s stock, valued at $6,322,353.28. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
A number of analysts recently commented on the stock. SunTrust Banks, Inc. upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Citigroup Inc. dropped their target price on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Royal Bank Of Canada reiterated a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a report on Sunday, October 8th. Finally, Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $76.67.
Colgate-Palmolive Company (NYSE:CL) opened at $70.90 on Wednesday. Colgate-Palmolive Company has a 1 year low of $63.43 and a 1 year high of $77.27. The company has a market cap of $61,686.89, a P/E ratio of 24.48, a P/E/G ratio of 3.22 and a beta of 0.80. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. equities analysts anticipate that Colgate-Palmolive Company will post 2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s payout ratio is presently 61.78%.
Colgate-Palmolive Company Profile
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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