Schwab Charles Investment Management Inc. raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 3,474,194 shares of the company’s stock after buying an additional 39,843 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Colgate-Palmolive were worth $254,277,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. AlphaMark Advisors LLC raised its stake in shares of Colgate-Palmolive by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock worth $122,000 after buying an additional 1,370 shares during the period. North Star Investment Management Corp. raised its stake in shares of Colgate-Palmolive by 3.9% in the first quarter. North Star Investment Management Corp. now owns 1,797 shares of the company’s stock worth $132,000 after buying an additional 67 shares during the period. Blue Chip Partners Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the first quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock worth $132,000 after buying an additional 8 shares during the period. Advantage Investment Management LLC raised its stake in shares of Colgate-Palmolive by 16.8% in the first quarter. Advantage Investment Management LLC now owns 1,850 shares of the company’s stock worth $135,000 after buying an additional 266 shares during the period. Finally, Heritage Trust Co acquired a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $146,000. Institutional investors and hedge funds own 73.85% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) traded down 0.14% during midday trading on Friday, reaching $71.45. 561,244 shares of the company’s stock traded hands. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The stock’s 50 day moving average price is $72.96 and its 200-day moving average price is $72.71. The stock has a market cap of $62.94 billion, a PE ratio of 26.55 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is currently 59.48%.
A number of brokerages have commented on CL. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research note on Thursday, May 25th. UBS AG reiterated a “neutral” rating and issued a $78.00 target price (down previously from $79.00) on shares of Colgate-Palmolive in a research note on Tuesday, May 2nd. BidaskClub lowered shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 target price (up previously from $77.00) on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.82.
In other news, Vice Chairman Franck J. Moison sold 35,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.52, for a total transaction of $2,503,200.00. Following the transaction, the insider now directly owns 201,411 shares of the company’s stock, valued at approximately $14,404,914.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Justin Skala sold 74,374 shares of Colgate-Palmolive stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the transaction, the chief operating officer now directly owns 97,177 shares in the company, valued at $7,046,304.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 203,969 shares of company stock worth $14,711,068. Insiders own 1.02% of the company’s stock.
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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