ELCO Management Co. LLC Has $2.65 Million Stake in Colgate-Palmolive (CL)
ELCO Management Co. LLC decreased its stake in Colgate-Palmolive (NYSE:CL) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,720 shares of the company’s stock after selling 100 shares during the period. Colgate-Palmolive makes up 1.5% of ELCO Management Co. LLC’s portfolio, making the stock its 17th biggest position. ELCO Management Co. LLC’s holdings in Colgate-Palmolive were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive in the first quarter valued at about $102,000. Proficio Capital Partners LLC boosted its holdings in Colgate-Palmolive by 16.9% in the first 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 last quarter. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive in the second quarter valued at about $109,000. Hanson & Doremus Investment Management boosted its holdings in Colgate-Palmolive by 4.5% in the second 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 last quarter. Finally, Captrust Financial Advisors purchased a new position in Colgate-Palmolive in the second quarter valued at about $122,000. 73.22% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Stephen I. Sadove sold 20,780 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $70.52, for a total value of $1,465,405.60. Following the sale, the director now directly owns 36,268 shares in the company, valued at approximately $2,557,619.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Insiders have sold a total of 173,673 shares of company stock worth $12,629,293 over the last quarter. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. research analysts predict that Colgate-Palmolive 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. Stockholders 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 2.19%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s payout ratio is 61.78%.
CL has been the topic of a number of research analyst reports. Citigroup reduced their target price on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, October 23rd. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.04.
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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