Colgate-Palmolive Company (CL) Position Lessened by Choate Investment Advisors
Choate Investment Advisors reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,159 shares of the company’s stock after selling 610 shares during the period. Choate Investment Advisors’ holdings in Colgate-Palmolive were worth $2,606,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. TIAA CREF Investment Management LLC boosted its holdings in shares of Colgate-Palmolive by 84.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the period. Fiera Capital Corp boosted its holdings in Colgate-Palmolive by 17.3% in the 2nd quarter. Fiera Capital Corp now owns 4,595,453 shares of the company’s stock valued at $340,662,000 after purchasing an additional 677,657 shares during the period. HAP Trading LLC boosted its holdings in Colgate-Palmolive by 109.1% in the 2nd quarter. HAP Trading LLC now owns 55,234 shares of the company’s stock valued at $4,094,000 after purchasing an additional 662,067 shares during the period. Principal Financial Group Inc. boosted its holdings in Colgate-Palmolive by 45.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,843,728 shares of the company’s stock valued at $136,676,000 after purchasing an additional 572,720 shares during the period. Finally, MARSHALL WACE ASIA Ltd boosted its holdings in Colgate-Palmolive by 1,419.1% in the 2nd quarter. MARSHALL WACE ASIA Ltd now owns 518,823 shares of the company’s stock valued at $38,393,000 after purchasing an additional 484,670 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.
In related news, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the sale, the director now owns 36,268 shares in the company, valued at approximately $2,557,619.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $73.07, for a total transaction of $730,700.00. Following the completion of the sale, the insider now owns 60,528 shares of the company’s stock, valued at approximately $4,422,780.96. The disclosure for this sale can be found here. Insiders have sold a total of 173,673 shares of company stock valued at $12,629,293 in the last quarter. 1.02% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on CL. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup Inc. reduced their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. Jefferies Group LLC reduced their price target on shares of Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a report on Monday, October 30th. Finally, Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.67.
Shares of Colgate-Palmolive Company (CL) opened at $71.89 on Monday. The stock has a market cap of $63,126.98, a PE ratio of 25.05, a P/E/G ratio of 3.29 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 Company has a 1 year low of $63.43 and a 1 year high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.73. The business had revenue of $3.97 billion during 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%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. analysts expect that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 61.78%.
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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