Raymond James Trust N.A. Raises Stake in Colgate-Palmolive Company (CL)
Raymond James Trust N.A. increased its position in Colgate-Palmolive Company (NYSE:CL) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,373 shares of the company’s stock after buying an additional 1,966 shares during the period. Raymond James Trust N.A.’s holdings in Colgate-Palmolive were worth $1,733,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Colgate-Palmolive by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock valued at $1,499,000 after purchasing an additional 1,566 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Colgate-Palmolive by 4.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock valued at $139,014,000 after purchasing an additional 77,414 shares during the last quarter. Israel Discount Bank of New York acquired a new position in Colgate-Palmolive during the 1st quarter valued at about $1,349,000. Principal Financial Group Inc. boosted its stake in Colgate-Palmolive by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock valued at $93,025,000 after purchasing an additional 7,905 shares during the last quarter. Finally, Personal Capital Advisors Corp boosted its stake in Colgate-Palmolive by 5.8% during the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock valued at $29,209,000 after purchasing an additional 21,456 shares during the last quarter. Institutional investors own 73.87% of the company’s stock.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at $72.48 on Thursday. 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 company has a market cap of $64,505.61, a P/E ratio of 25.60, a P/E/G ratio of 3.36 and a beta of 0.80. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. Colgate-Palmolive’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. analysts expect that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a $0.40 dividend. The ex-dividend date was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 61.78%.
In other Colgate-Palmolive news, insider Victoria L. Dolan sold 10,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were 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 of the company’s stock, valued at approximately $4,422,780.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the sale, the chief marketing officer now directly owns 45,217 shares in the company, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. Insiders sold a total of 164,673 shares of company stock worth $11,968,603 in the last ninety days. 1.02% of the stock is currently owned by insiders.
A number of research firms have issued reports on CL. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Citigroup Inc. cut their price target on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Morgan Stanley cut their price target on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a research note on Tuesday, October 31st. Jefferies Group LLC cut their price target on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Finally, Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.67.
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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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