Oarsman Capital Inc. decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,187 shares of the company’s stock after selling 1,580 shares during the quarter. Oarsman Capital Inc.’s holdings in Colgate-Palmolive were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its stake in Colgate-Palmolive by 2.3% in the second quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock valued at $362,580,000 after buying an additional 108,850 shares during the period. TIAA CREF Investment Management LLC lifted its stake in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after buying an additional 2,082,262 shares during the period. Legal & General Group Plc lifted its stake in Colgate-Palmolive by 2.2% in the second quarter. Legal & General Group Plc now owns 4,390,317 shares of the company’s stock valued at $325,461,000 after buying an additional 96,427 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Colgate-Palmolive by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,474,194 shares of the company’s stock valued at $254,277,000 after buying an additional 39,843 shares during the period. Finally, Eaton Vance Management increased its holdings in shares of Colgate-Palmolive by 11.0% in the second quarter. Eaton Vance Management now owns 3,275,939 shares of the company’s stock worth $242,845,000 after acquiring an additional 325,072 shares in the last quarter. 73.87% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (CL) opened at $73.46 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42. The stock has a market capitalization of $64,716.35, a PE ratio of 25.68, a P/E/G ratio of 3.38 and a beta of 0.80. Colgate-Palmolive Company has a fifty-two week low of $63.43 and a fifty-two week high of $77.27.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company earned $0.73 earnings per share. Colgate-Palmolive’s quarterly revenue was up 2.8% on a year-over-year basis. analysts anticipate that Colgate-Palmolive Company will post 2.88 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.18%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 61.78%.
Several brokerages have issued reports on CL. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup Inc. lowered their price target on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Morgan Stanley lowered their price target on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. Jefferies Group LLC lowered their price target on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a report on Monday, October 30th. Finally, Stifel Nicolaus set a $73.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $76.67.
In related news, COO Justin Skala sold 126,393 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares of the company’s stock, valued at $19,144,482.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The disclosure for this sale can be found here. Insiders have sold 164,673 shares of company stock valued at $11,968,603 over the last three months. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
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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