KG&L Capital Management LLC trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 36.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,814 shares of the company’s stock after selling 2,224 shares during the quarter. KG&L Capital Management LLC’s holdings in Colgate-Palmolive were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Meridian Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $29,000. Lipe & Dalton bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $29,000. Enterprise Trust & Investment Co bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $36,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 75.95% of the company’s stock.
CL has been the topic of a number of recent analyst reports. Wells Fargo & Co lifted their price objective on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Deutsche Bank lifted their price objective on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research report on Tuesday, August 13th. They issued an “overweight” rating on the stock. Citigroup lifted their price objective on Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, UBS Group lifted their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $74.07.
In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 858 shares of Colgate-Palmolive stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.60, for a total transaction of $64,006.80. Following the completion of the transaction, the chief financial officer now owns 39,031 shares in the company, valued at $2,911,712.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ian M. Cook sold 19,500 shares of Colgate-Palmolive stock in a transaction on Friday, September 27th. The shares were sold at an average price of $73.05, for a total value of $1,424,475.00. Following the transaction, the chairman now owns 1,030,575 shares of the company’s stock, valued at approximately $75,283,503.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 569,298 shares of company stock valued at $40,930,165. 1.14% of the stock is currently owned by company insiders.
Shares of CL traded down $0.26 on Friday, reaching $70.51. The stock had a trading volume of 162,221 shares, compared to its average volume of 3,387,931. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 4.55 and a beta of 0.75. The company has a 50-day simple moving average of $72.40 and a 200-day simple moving average of $71.60. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $76.41.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is presently 57.91%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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