Covington Capital Management decreased its holdings in Colgate-Palmolive (NYSE:CL) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 148,544 shares of the company’s stock after selling 1,099 shares during the quarter. Covington Capital Management’s holdings in Colgate-Palmolive were worth $11,208,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Colgate-Palmolive by 1.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 329,914 shares of the company’s stock valued at $24,890,000 after buying an additional 4,527 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Colgate-Palmolive by 8.4% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 184,481 shares of the company’s stock valued at $13,919,000 after buying an additional 14,309 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Colgate-Palmolive by 6.0% during the fourth quarter. Teachers Advisors LLC now owns 2,237,892 shares of the company’s stock valued at $168,849,000 after purchasing an additional 126,978 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $162,000. Finally, Raymond James & Associates grew its holdings in shares of Colgate-Palmolive by 1.4% during the fourth quarter. Raymond James & Associates now owns 263,993 shares of the company’s stock valued at $19,919,000 after purchasing an additional 3,702 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
Shares of Colgate-Palmolive (NYSE:CL) traded down $0.14 during mid-day trading on Wednesday, reaching $70.73. The company had a trading volume of 224,818 shares, compared to its average volume of 3,965,597. Colgate-Palmolive has a 1-year low of $68.19 and a 1-year high of $77.91. The company has a market cap of $62,218.23, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. The company has a debt-to-equity ratio of 27.02, a current ratio of 1.36 and a quick ratio of 1.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.38%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 19th. Colgate-Palmolive’s dividend payout ratio is 70.18%.
Several research firms have recently commented on CL. Citigroup upped their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Jefferies Group reaffirmed a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a report on Friday, January 26th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Tuesday, January 16th. Finally, Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price for the company in a report on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $77.91.
In related news, insider Daniel B. Marsili sold 5,692 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $70.19, for a total value of $399,521.48. Following the completion of the transaction, the insider now directly owns 41,677 shares of the company’s stock, valued at approximately $2,925,308.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dennis J. Hickey sold 5,651 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.18, for a total value of $396,587.18. Following the completion of the transaction, the chief financial officer now directly owns 413,221 shares of the company’s stock, valued at $28,999,849.78. The disclosure for this sale can be found here. Insiders sold a total of 455,707 shares of company stock valued at $32,443,427 over the last three months. Corporate insiders own 1.02% of the company’s stock.
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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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