Peoples Financial Services CORP. lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,720 shares of the company’s stock after selling 310 shares during the period. Peoples Financial Services CORP.’s holdings in Colgate-Palmolive were worth $714,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CL. Krane Funds Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at about $25,000. Meridian Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $29,000. Lipe & Dalton acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at about $29,000. Enterprise Trust & Investment Co acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at about $36,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a report on Friday, July 12th. Piper Jaffray Companies assumed coverage on Colgate-Palmolive in a report on Tuesday, August 13th. They issued an “overweight” rating on the stock. UBS Group upped their target price on Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Berenberg Bank began coverage on Colgate-Palmolive in a report on Wednesday. They issued a “sell” rating and a $58.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $73.40.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Research analysts predict that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a yield of 2.53%. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In other Colgate-Palmolive news, VP Philip G. Shotts sold 8,919 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.05, for a total transaction of $633,694.95. Following the completion of the sale, the vice president now owns 50,399 shares of the company’s stock, valued at $3,580,848.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Henning I. Jakobsen sold 858 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.60, for a total value of $64,006.80. Following the sale, the chief financial officer now directly owns 39,031 shares of the company’s stock, valued at approximately $2,911,712.60. The disclosure for this sale can be found here. Insiders sold 549,798 shares of company stock worth $39,483,460 in the last 90 days. 1.14% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
Read More: Reverse Stock Split
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.