Colgate-Palmolive (NYSE:CL) Shares Sold by Arkadios Wealth Advisors
Arkadios Wealth Advisors cut its position in Colgate-Palmolive (NYSE:CL) by 17.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 823 shares of the company’s stock after selling 169 shares during the quarter. Arkadios Wealth Advisors’ holdings in Colgate-Palmolive were worth $66,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Marino Stram & Associates LLC raised its position in shares of Colgate-Palmolive by 2.7% during the 3rd quarter. Marino Stram & Associates LLC now owns 5,047 shares of the company’s stock valued at $389,000 after acquiring an additional 133 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Colgate-Palmolive by 40.5% during the second quarter. Lido Advisors LLC now owns 14,909 shares of the company’s stock worth $1,092,000 after purchasing an additional 4,297 shares during the period. BP PLC raised its holdings in shares of Colgate-Palmolive by 199.2% during the third quarter. BP PLC now owns 245,364 shares of the company’s stock worth $18,920,000 after purchasing an additional 163,364 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Colgate-Palmolive by 8.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 54,833 shares of the company’s stock worth $4,017,000 after buying an additional 4,221 shares during the last quarter. Finally, Citizens Financial Group Inc RI boosted its holdings in shares of Colgate-Palmolive by 6.6% in the 2nd quarter. Citizens Financial Group Inc RI now owns 32,358 shares of the company’s stock valued at $2,370,000 after buying an additional 1,992 shares during the period. 69.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on CL shares. Truist increased their price objective on shares of Colgate-Palmolive from $80.00 to $85.00 in a research note on Monday, October 26th. Deutsche Bank Aktiengesellschaft upped their target price on Colgate-Palmolive from $75.00 to $78.00 and gave the company a “hold” rating in a report on Monday, August 3rd. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Finally, UBS Group increased their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $78.08.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.09. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4 billion. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts predict that Colgate-Palmolive will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 16th. Stockholders of record on Friday, October 23rd were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, October 22nd. Colgate-Palmolive’s dividend payout ratio is currently 62.19%.
In related news, CFO Henning I. Jakobsen sold 145,280 shares of Colgate-Palmolive stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $85.22, for a total transaction of $12,380,761.60. Following the transaction, the chief financial officer now directly owns 79,756 shares of the company’s stock, valued at $6,796,806.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Philip G. Shotts sold 401 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $77.29, for a total transaction of $30,993.29. Following the completion of the sale, the vice president now owns 41,263 shares in the company, valued at $3,189,217.27. The disclosure for this sale can be found here. Insiders sold 262,673 shares of company stock valued at $22,315,438 over the last quarter. Insiders own 0.78% of the company’s stock.
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. The Oral, Personal and Home Care segment products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
Further Reading: Cash Flow Analysis in Stock Selection
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