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.
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%.
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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.
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