Riverhead Capital Management LLC reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 67.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,514 shares of the company’s stock after selling 28,424 shares during the period. Riverhead Capital Management LLC’s holdings in Colgate-Palmolive were worth $1,002,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Colgate-Palmolive by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after purchasing an additional 1,566 shares in the last quarter. 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 worth $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 worth about $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 worth $93,025,000 after purchasing an additional 7,905 shares in the last quarter. Finally, 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 worth $29,209,000 after purchasing an additional 21,456 shares in the last quarter. 73.87% of the stock is currently owned by hedge funds and other institutional investors.
In other Colgate-Palmolive 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 value of $1,465,405.60. Following the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Justin Skala sold 126,393 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,673 shares of company stock worth $11,968,603. Company insiders own 1.02% of the company’s stock.
Shares of Colgate-Palmolive Company (NYSE CL) opened at $73.46 on Wednesday. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The firm has a market capitalization of $64,716.35, a P/E ratio of 25.68, a P/E/G ratio of 3.38 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company earned $0.73 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts predict that Colgate-Palmolive Company will post 2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.18%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 61.78%.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Citigroup Inc. lowered their target price on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Morgan Stanley lowered their target price on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 31st. Jefferies Group LLC lowered their target price on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Monday, October 30th. Finally, Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a research note on Sunday, October 29th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.67.
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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