Great Lakes Advisors LLC Has $5.22 Million Holdings in Colgate-Palmolive (CL)

Great Lakes Advisors LLC boosted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 795.0% in the third quarter, HoldingsChannel.com reports. The fund owned 77,893 shares of the company’s stock after buying an additional 69,190 shares during the quarter. Great Lakes Advisors LLC’s holdings in Colgate-Palmolive were worth $5,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CL. Fundsmith Equity Fund L.P. acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $232,451,000. Genesis Asset Managers LLP acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $184,557,000. Charles Schwab Investment Advisory Inc. bought a new stake in Colgate-Palmolive in the 2nd quarter valued at $173,852,000. Bank of New York Mellon Corp lifted its position in Colgate-Palmolive by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock valued at $1,304,974,000 after acquiring an additional 1,596,825 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its position in Colgate-Palmolive by 162.5% in the 2nd quarter. Flossbach Von Storch AG now owns 1,759,030 shares of the company’s stock valued at $114,003,000 after acquiring an additional 1,088,805 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Philip G. Shotts sold 462 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $30,977.10. Following the transaction, the vice president now owns 41,250 shares in the company, valued at approximately $2,765,812.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the transaction, the chief financial officer now owns 36,193 shares in the company, valued at approximately $2,426,740.65. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on CL shares. UBS Group set a $71.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Wednesday, October 17th. Argus reaffirmed a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, October 30th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Finally, Citigroup dropped their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $68.20.

Shares of CL opened at $63.52 on Monday. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $77.91. The stock has a market capitalization of $55.09 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.12 and a beta of 0.76. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 64.85.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business earned $0.73 EPS. Colgate-Palmolive’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.64%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.54%.

COPYRIGHT VIOLATION WARNING: This news story was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.com-unik.info/2018/12/03/great-lakes-advisors-llc-has-5-22-million-holdings-in-colgate-palmolive-cl.html.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

See Also: Stop Order Uses For Individual Investors

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit