Adirondack Trust Co. reduced its position in Colgate-Palmolive Company (NYSE:CL) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,989 shares of the company’s stock after selling 295 shares during the period. Adirondack Trust Co.’s holdings in Colgate-Palmolive were worth $1,111,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake 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 purchasing an additional 77,414 shares in the last quarter. Israel Discount Bank of New York purchased a new position in Colgate-Palmolive in the 1st quarter valued at approximately $1,349,000. Principal Financial Group Inc. increased its stake 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 purchasing an additional 7,905 shares in the last quarter. Personal Capital Advisors Corp increased its stake 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 purchasing an additional 21,456 shares in the last quarter. Finally, Shelton Capital Management increased its stake 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 purchasing an additional 11,242 shares in the last quarter. 73.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Company (NYSE CL) opened at 75.16 on Friday. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27. The firm has a market cap of $66.20 billion, a PE ratio of 27.93 and a beta of 0.81. The stock’s 50 day moving average price is $72.26 and its 200 day moving average price is $73.18.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, equities research analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.48%.
In other Colgate-Palmolive news, Director John T. Cahill sold 8,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $72.47, for a total transaction of $579,760.00. Following the sale, the director now directly owns 31,786 shares of the company’s stock, valued at approximately $2,303,531.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the sale, the insider now directly owns 53,022 shares in the company, valued at $3,839,323.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,969 shares of company stock worth $15,693,933. Company insiders own 1.02% of the company’s stock.
Several research firms recently weighed in on CL. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, September 25th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, October 8th. BidaskClub downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a research note on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.31.
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Colgate-Palmolive Company Profile
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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