Synovus Financial Corp Purchases 1,826 Shares of Colgate-Palmolive (CL)

Synovus Financial Corp increased its position in shares of Colgate-Palmolive (NYSE:CL) by 2.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 74,668 shares of the company’s stock after buying an additional 1,826 shares during the quarter. Synovus Financial Corp’s holdings in Colgate-Palmolive were worth $5,439,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after purchasing an additional 2,903,800 shares during the last quarter. APG Asset Management N.V. increased its stake in Colgate-Palmolive by 243.0% in the third quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock valued at $296,557,000 after purchasing an additional 2,884,100 shares during the last quarter. Harding Loevner LP increased its stake in Colgate-Palmolive by 92.0% in the third quarter. Harding Loevner LP now owns 4,742,752 shares of the company’s stock valued at $176,329,000 after purchasing an additional 2,272,675 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 35.8% in the third quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock valued at $483,837,000 after purchasing an additional 1,750,417 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after purchasing an additional 1,621,392 shares during the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.

In related news, insider Jennifer Daniels sold 7,375 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total transaction of $539,702.50. Following the completion of the sale, the insider now directly owns 38,691 shares of the company’s stock, valued at $2,831,407.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $73.28, for a total value of $549,600.00. Following the sale, the chief marketing officer now directly owns 45,217 shares of the company’s stock, valued at $3,313,501.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,950 shares of company stock valued at $13,237,385. Corporate insiders own 1.02% of the company’s stock.

Shares of Colgate-Palmolive (NYSE:CL) opened at $75.42 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. Colgate-Palmolive has a fifty-two week low of $63.43 and a fifty-two week high of $77.27. The firm has a market capitalization of $66,230.00, a price-to-earnings ratio of 29.12, a P/E/G ratio of 3.15 and a beta of 0.81.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm 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. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts anticipate that Colgate-Palmolive will post 2.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.

Several research firms have recently weighed in on CL. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective for the company in a report on Tuesday, December 19th. Deutsche Bank began coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 price objective for the company. Societe Generale downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective for the company. in a report on Wednesday, November 29th. They noted that the move was a valuation call. Finally, KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $76.45.

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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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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