Marathon Asset Management LLP raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,491,250 shares of the company’s stock after buying an additional 259,756 shares during the period. Colgate-Palmolive makes up 1.9% of Marathon Asset Management LLP’s holdings, making the stock its 13th largest position. Marathon Asset Management LLP owned 0.17% of Colgate-Palmolive worth $110,546,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Congress Asset Management Co. MA bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $48,550,000. Cigna Investments Inc. New purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $3,744,000. United Capital Financial Advisers LLC boosted its position in shares of Colgate-Palmolive by 3.3% in the fourth quarter. United Capital Financial Advisers LLC now owns 464,834 shares of the company’s stock worth $30,419,000 after buying an additional 14,837 shares in the last quarter. Summit Global Investments purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $2,265,000. Finally, Shepherd Financial Partners LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $269,000. Institutional investors own 73.85% of the company’s stock.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 71.26 on Friday. The stock has a market capitalization of $62.77 billion, a P/E ratio of 26.48 and a beta of 0.80. The company has a 50 day moving average price of $72.84 and a 200-day moving average price of $72.74. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
Several research firms recently issued reports on CL. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, May 25th. UBS AG restated 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 cut 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 set a $79.00 price objective (up previously from $77.00) on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $75.82.
In other Colgate-Palmolive news, COO Justin Skala sold 74,374 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the sale, the chief operating officer now directly owns 97,177 shares in the company, valued at approximately $7,046,304.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the sale, the chief financial officer now owns 484,985 shares in the company, valued at $34,821,923. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,969 shares of company stock valued at $14,711,068. 1.02% of the stock is owned by company insiders.
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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