Ieq Capital LLC Increases Stake in Colgate-Palmolive (NYSE:CL)
Ieq Capital LLC raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,544 shares of the company’s stock after acquiring an additional 166 shares during the period. Ieq Capital LLC’s holdings in Colgate-Palmolive were worth $501,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Evoke Wealth LLC raised its position in Colgate-Palmolive by 27.2% in the fourth quarter. Evoke Wealth LLC now owns 631 shares of the company’s stock valued at $43,000 after purchasing an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Colgate-Palmolive by 2.0% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,922 shares of the company’s stock worth $476,000 after acquiring an additional 139 shares during the last quarter. Godshalk Welsh Capital Management Inc. grew its stake in Colgate-Palmolive by 1.5% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 10,000 shares of the company’s stock worth $688,000 after purchasing an additional 150 shares in the last quarter. IHT Wealth Management LLC grew its stake in Colgate-Palmolive by 4.7% in the fourth quarter. IHT Wealth Management LLC now owns 3,391 shares of the company’s stock worth $233,000 after purchasing an additional 151 shares in the last quarter. Finally, Rikoon Group LLC grew its stake in Colgate-Palmolive by 2.5% in the fourth quarter. Rikoon Group LLC now owns 6,215 shares of the company’s stock worth $428,000 after purchasing an additional 152 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, VP Philip G. Shotts sold 666 shares of Colgate-Palmolive stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.61, for a total value of $50,356.26. Following the completion of the sale, the vice president now owns 41,158 shares in the company, valued at approximately $3,111,956.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel B. Marsili sold 4,030 shares of Colgate-Palmolive stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $75.45, for a total transaction of $304,063.50. Following the completion of the sale, the insider now owns 51,788 shares of the company’s stock, valued at approximately $3,907,404.60. The disclosure for this sale can be found here. Insiders have sold a total of 80,132 shares of company stock valued at $5,774,879 in the last ninety days. 0.78% of the stock is currently owned by insiders.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.07 billion. Colgate-Palmolive had a net margin of 15.86% and a return on equity of 942.99%. Colgate-Palmolive’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 EPS. Analysts expect that Colgate-Palmolive will post 2.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a dividend of $0.44 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, April 17th. This represents a $1.76 annualized dividend and a dividend yield of 2.55%. Colgate-Palmolive’s payout ratio is presently 62.19%.
A number of equities analysts have commented on the company. Berenberg Bank restated a “sell” rating and issued a $58.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, February 4th. Credit Suisse Group reissued a “sell” rating and set a $67.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Citigroup increased their price target on shares of Colgate-Palmolive from $71.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus increased their price target on shares of Colgate-Palmolive from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.60.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
Recommended Story: What is the S&P/ASX 200 Index?
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.