Trustco Bank Corp N Y continued to hold its position in Colgate-Palmolive Company (NYSE:CL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,056 shares of the company’s stock at the end of the second quarter. Colgate-Palmolive accounts for approximately 1.5% of Trustco Bank Corp N Y’s portfolio, making the stock its 24th biggest holding. Trustco Bank Corp N Y’s holdings in Colgate-Palmolive were worth $1,486,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at $102,000. Proficio Capital Partners LLC raised its stake in Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares in the last quarter. OLD Second National Bank of Aurora acquired a new stake in Colgate-Palmolive in the second quarter valued at $109,000. Harbour Capital Advisors LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at $121,000. Finally, Hanson & Doremus Investment Management raised its stake in Colgate-Palmolive by 4.5% in the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares in the last quarter. Institutional investors own 73.87% of the company’s stock.
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In related news, Director Stephen I. Sadove sold 20,780 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the transaction, the director now directly owns 36,268 shares in the company, valued at approximately $2,557,619.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total value of $273,867.85. Following the transaction, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Citigroup Inc. dropped their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Morgan Stanley dropped their price objective on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating on the stock in a report on Tuesday, October 31st. Jefferies Group LLC dropped their price objective on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Monday, October 30th. Finally, Stifel Nicolaus set a $73.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. One 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 price target of $76.67.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at $73.21 on Monday. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. The stock has a market cap of $64,286.08, a P/E ratio of 25.51, a PEG ratio of 3.35 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm earned $0.73 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. Colgate-Palmolive’s payout ratio is 61.78%.
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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