Park National Corp OH lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 18,827 shares of the company’s stock after selling 1,583 shares during the period. Park National Corp OH’s holdings in Colgate-Palmolive were worth $1,485,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $25,000. Advisory Alpha LLC purchased a new position in Colgate-Palmolive during the third quarter valued at approximately $28,000. Grant Street Asset Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $28,000. TRU Independence Asset Management 2 LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $29,000. Finally, Encompass Wealth Advisors LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Berenberg Bank raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Tuesday, January 26th. Royal Bank of Canada lowered shares of Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 price target on the stock. in a report on Monday, January 4th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a report on Thursday, January 28th. Credit Suisse Group raised shares of Colgate-Palmolive from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $80.00 in a report on Monday, February 1st. Finally, Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, January 19th. They issued an “underperform” rating and a $77.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $81.91.
In related news, insider John W. Kooyman sold 463 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $77.16, for a total transaction of $35,725.08. Following the completion of the transaction, the insider now directly owns 7,160 shares in the company, valued at $552,465.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Polk sold 4,835 shares of the business’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $79.25, for a total transaction of $383,173.75. Following the transaction, the director now owns 23,090 shares of the company’s stock, valued at $1,829,882.50. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock valued at $2,418,650 over the last 90 days. 0.78% of the stock is currently owned by insiders.
Shares of CL opened at $79.69 on Thursday. The firm has a market capitalization of $67.54 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.83 and a beta of 0.59. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.97 and a quick ratio of 0.62. Colgate-Palmolive has a 1-year low of $65.54 and a 1-year high of $86.41. The company’s fifty day moving average price is $76.89 and its 200-day moving average price is $80.38.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, January 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.15 billion. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. As a group, research analysts anticipate that Colgate-Palmolive will post 3.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Wednesday, April 21st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.26%. Colgate-Palmolive’s payout ratio is currently 62.19%.
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. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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