Amundi Asset Management US Inc. lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 33.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,155,330 shares of the company’s stock after selling 1,082,767 shares during the period. Amundi Asset Management US Inc. owned approximately 0.25% of Colgate-Palmolive worth $169,903,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CL. Verition Fund Management LLC acquired a new position in Colgate-Palmolive in the 1st quarter valued at approximately $1,025,000. Merit Financial Group LLC raised its holdings in Colgate-Palmolive by 3.3% in the 1st quarter. Merit Financial Group LLC now owns 14,036 shares of the company’s stock valued at $1,106,000 after acquiring an additional 443 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in Colgate-Palmolive by 23.6% in the 1st quarter. State of Wisconsin Investment Board now owns 719,362 shares of the company’s stock valued at $56,707,000 after acquiring an additional 137,452 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Colgate-Palmolive by 1,864.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 163,952 shares of the company’s stock valued at $12,924,000 after acquiring an additional 155,605 shares in the last quarter. Finally, Optimal Asset Management Inc. raised its holdings in Colgate-Palmolive by 592.5% in the 1st quarter. Optimal Asset Management Inc. now owns 33,310 shares of the company’s stock valued at $2,626,000 after acquiring an additional 28,500 shares in the last quarter. 75.85% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Noel R. Wallace sold 25,279 shares of the firm’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $81.03, for a total value of $2,048,357.37. Following the transaction, the chief executive officer now directly owns 257,057 shares in the company, valued at approximately $20,829,328.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 11,195 shares of the firm’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $82.07, for a total value of $918,773.65. Following the completion of the transaction, the insider now owns 19,251 shares in the company, valued at $1,579,929.57. The disclosure for this sale can be found here. Insiders sold a total of 91,040 shares of company stock worth $7,384,255 over the last quarter. Corporate insiders own 0.32% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, April 29th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.28 billion. Colgate-Palmolive had a return on equity of 298.80% and a net margin of 15.92%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. On average, research analysts anticipate that Colgate-Palmolive will post 3.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Wednesday, July 21st will be given a $0.45 dividend. The ex-dividend date is Tuesday, July 20th. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. Colgate-Palmolive’s payout ratio is 58.82%.
A number of equities analysts have recently issued reports on CL shares. Deutsche Bank Aktiengesellschaft increased their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, May 3rd. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 target price for the company in a report on Monday, May 3rd. JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, April 16th. Evercore ISI reissued a “buy” rating and issued a $95.00 target price on shares of Colgate-Palmolive in a report on Sunday, June 20th. Finally, Credit Suisse Group raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $95.00 in a report on Wednesday, June 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $85.62.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
Further Reading: Buyback
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