Colgate-Palmolive Company (CL) Shares Sold by Trust Co. of Virginia VA
Trust Co. of Virginia VA cut its stake in Colgate-Palmolive Company (NYSE:CL) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,665 shares of the company’s stock after selling 990 shares during the quarter. Trust Co. of Virginia VA’s holdings in Colgate-Palmolive were worth $2,644,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new position in shares of Colgate-Palmolive in the first quarter valued at about $102,000. Proficio Capital Partners LLC increased its position in Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after acquiring an additional 207 shares during the period. OLD Second National Bank of Aurora bought a new position in Colgate-Palmolive during the second quarter worth about $109,000. Harbour Capital Advisors LLC bought a new position in Colgate-Palmolive during the first quarter worth about $121,000. Finally, Hanson & Doremus Investment Management increased its position in Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after acquiring an additional 70 shares during the period. 73.87% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive Company (CL) opened at $73.70 on Tuesday. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The firm has a market cap of $64,286.08, a P/E ratio of 25.51, a PEG ratio of 3.35 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company posted $0.73 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. sell-side analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current year.
The business also recently declared 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. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. Colgate-Palmolive’s payout ratio is currently 61.78%.
In related news, COO Justin Skala sold 126,393 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the sale, the chief operating officer now directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria L. Dolan sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $73.07, for a total transaction of $730,700.00. Following the sale, the insider now owns 60,528 shares in the company, valued at $4,422,780.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,673 shares of company stock worth $11,968,603. 1.02% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Monday, October 23rd. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $75.00 to $84.00 in a research report on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. SunTrust Banks, Inc. raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $76.67.
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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