Coastline Trust Co lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,870 shares of the company’s stock after selling 1,000 shares during the quarter. Coastline Trust Co’s holdings in Colgate-Palmolive were worth $4,290,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CL. American Beacon Advisors Inc. bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $102,000. Proficio Capital Partners LLC increased its holdings in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after buying an additional 207 shares during the last quarter. OLD Second National Bank of Aurora bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $109,000. Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $121,000. Finally, Hanson & Doremus Investment Management increased its holdings in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
Several brokerages recently commented on CL. Jefferies Group LLC reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Citigroup Inc. cut their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Macquarie began coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price target on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Sunday, October 8th. One research 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 stock currently has an average rating of “Hold” and an average target price of $76.67.
Shares of Colgate-Palmolive Company (CL) opened at $73.46 on Wednesday. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm has a market cap of $64,716.35, a P/E ratio of 25.68, a PEG ratio of 3.38 and a beta of 0.80. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92.
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 the consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. research analysts expect that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. Colgate-Palmolive’s payout ratio is presently 61.78%.
In related news, COO Justin Skala sold 126,393 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares of the company’s stock, valued at $19,144,482.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the sale, the chief marketing officer now directly owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. Insiders sold a total of 164,673 shares of company stock valued at $11,968,603 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.
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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