IBM Retirement Fund reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,953 shares of the company’s stock after selling 1,017 shares during the period. IBM Retirement Fund’s holdings in Colgate-Palmolive were worth $771,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Timber Creek Capital Management LLC lifted its holdings in Colgate-Palmolive by 247.1% in the fourth quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after buying an additional 336 shares during the period. Parisi Gray Wealth Management lifted its holdings in Colgate-Palmolive by 365.3% in the fourth quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after buying an additional 369 shares during the period. Portfolio Solutions LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $30,000. Lindbrook Capital LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $36,000. Finally, ERTS Wealth Advisors LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $40,000. Institutional investors own 75.02% of the company’s stock.
Several analysts have commented on CL shares. Goldman Sachs Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Jefferies Financial Group restated a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 1st. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 30th. BNP Paribas upgraded shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $56.00 to $67.00 in a report on Monday, February 11th. Finally, Evercore ISI started coverage on shares of Colgate-Palmolive in a report on Thursday, January 10th. They issued an “outperform” rating and a $70.00 price objective for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $65.13.
Shares of NYSE CL opened at $67.20 on Friday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.61. The company has a market cap of $57.90 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 4.25 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 32.25.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive will post 2.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.56%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.57%.
In related news, CFO Henning I. Jakobsen sold 969 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total transaction of $64,331.91. Following the completion of the sale, the chief financial officer now owns 35,208 shares of the company’s stock, valued at $2,337,459.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 6,060 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $66.37, for a total transaction of $402,202.20. Following the sale, the insider now directly owns 407,294 shares of the company’s stock, valued at approximately $27,032,102.78. The disclosure for this sale can be found here. Insiders have sold 51,700 shares of company stock valued at $3,419,284 in the last three months. 1.02% of the stock is owned by insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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