Keybank National Association OH lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 694,569 shares of the company’s stock after selling 11,352 shares during the period. Keybank National Association OH owned 0.08% of Colgate-Palmolive worth $51,488,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in Colgate-Palmolive by 4.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock valued at $139,014,000 after buying an additional 77,414 shares in the last quarter. Israel Discount Bank of New York bought a new position in Colgate-Palmolive in the 1st quarter valued at about $1,349,000. Principal Financial Group Inc. grew its position in Colgate-Palmolive by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock valued at $93,025,000 after buying an additional 7,905 shares in the last quarter. Personal Capital Advisors Corp grew its position in Colgate-Palmolive by 5.8% in the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock valued at $29,209,000 after buying an additional 21,456 shares in the last quarter. Finally, Shelton Capital Management grew its position in Colgate-Palmolive by 37.2% in the 1st quarter. Shelton Capital Management now owns 41,487 shares of the company’s stock valued at $3,036,000 after buying an additional 11,242 shares in the last quarter. Hedge funds and other institutional investors own 73.45% of the company’s stock.
In related news, 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 value of $5,304,009.60. Following the completion of the transaction, the chief financial officer now directly owns 484,985 shares in the company, valued at approximately $34,821,923. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.52, for a total value of $2,503,200.00. Following the completion of the transaction, the insider now owns 201,411 shares of the company’s stock, valued at $14,404,914.72. The disclosure for this sale can be found here. Insiders sold a total of 126,705 shares of company stock valued at $9,080,117 over the last quarter. 1.02% of the stock is owned by insiders.
Shares of Colgate-Palmolive Company (CL) opened at 70.45 on Wednesday. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The firm’s 50-day moving average is $72.68 and its 200-day moving average is $73.08. The stock has a market capitalization of $62.06 billion, a price-to-earnings ratio of 26.18 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the firm earned $0.73 EPS. Colgate-Palmolive’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post $2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
Several research firms have recently weighed in on CL. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, July 4th. Jefferies Group LLC raised their price objective on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, July 6th. BidaskClub lowered shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Deutsche Bank AG restated a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $76.73.
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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