Ballentine Partners LLC lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 55.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,105 shares of the company’s stock after purchasing an additional 2,168 shares during the quarter. Ballentine Partners LLC’s holdings in Colgate-Palmolive were worth $438,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $102,000. Proficio Capital Partners LLC raised its position in Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the last quarter. OLD Second National Bank of Aurora acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $109,000. Harbour Capital Advisors LLC acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $121,000. Finally, Hanson & Doremus Investment Management raised its position in Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares during the last quarter. 73.09% of the stock is currently owned by institutional investors.
In related news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the sale, the insider now directly owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis J. Hickey sold 73,872 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the sale, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The disclosure for this sale can be found here. Insiders have sold 214,136 shares of company stock valued at $15,416,385 over the last ninety days. 1.02% of the stock is currently owned by company insiders.
Colgate-Palmolive Company (CL) opened at 74.44 on Thursday. The stock’s 50 day moving average price is $72.75 and its 200 day moving average price is $73.23. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The company has a market capitalization of $65.57 billion, a P/E ratio of 27.66 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. Colgate-Palmolive’s revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Analysts anticipate that Colgate-Palmolive Company will post $2.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s payout ratio is 59.48%.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Friday, June 30th. Finally, Jefferies Group LLC lifted their target price on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.85.
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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