Asset Management One Co. Ltd. reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355,072 shares of the company’s stock after selling 131,388 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Colgate-Palmolive worth $99,180,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock valued at $1,377,537,000 after buying an additional 169,798 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock valued at $350,015,000 after buying an additional 122,983 shares during the last quarter. Swiss National Bank raised its position in shares of Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Colgate-Palmolive by 11.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,532,717 shares of the company’s stock valued at $185,370,000 after buying an additional 253,665 shares during the last quarter. Finally, Thomaspartners Inc. raised its position in shares of Colgate-Palmolive by 10.8% in the first quarter. Thomaspartners Inc. now owns 2,231,315 shares of the company’s stock valued at $163,310,000 after buying an additional 217,087 shares during the last quarter. 73.85% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive Company (NYSE CL) opened at 71.74 on Tuesday. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The company’s 50-day moving average price is $73.87 and its 200 day moving average price is $72.62. The company has a market cap of $63.19 billion, a P/E ratio of 26.66 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
CL has been the topic of several research reports. Bank of America Corporation upped their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a research report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $75.82.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total transaction of $1,001,420.00. Following the transaction, the senior vice president now owns 102,838 shares of the company’s stock, valued at $7,356,002.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the transaction, the insider now directly owns 53,022 shares in the company, valued at approximately $3,839,323.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,969 shares of company stock worth $13,209,288. Company 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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