Principal Financial Group Inc. raised its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,246,817 shares of the company’s stock after buying an additional 15,499 shares during the period. Principal Financial Group Inc. owned 0.14% of Colgate-Palmolive worth $91,267,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. boosted its position in shares of Colgate-Palmolive by 3.3% in the second quarter. Brown Advisory Inc. now owns 181,778 shares of the company’s stock valued at $13,306,000 after buying an additional 5,861 shares during the last quarter. East Coast Asset Management LLC. boosted its position in Colgate-Palmolive by 15.8% in the second quarter. East Coast Asset Management LLC. now owns 100,710 shares of the company’s stock valued at $7,372,000 after buying an additional 13,746 shares in the last quarter. Prudential Financial Inc. boosted its position in Colgate-Palmolive by 40.4% in the second quarter. Prudential Financial Inc. now owns 2,923,928 shares of the company’s stock valued at $214,031,000 after buying an additional 841,146 shares in the last quarter. Thomaspartners Inc. boosted its position in Colgate-Palmolive by 5.4% in the second quarter. Thomaspartners Inc. now owns 1,722,021 shares of the company’s stock valued at $126,052,000 after buying an additional 88,211 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Colgate-Palmolive by 13.6% in the second quarter. Private Advisor Group LLC now owns 56,588 shares of the company’s stock valued at $4,147,000 after buying an additional 6,761 shares in the last quarter. 72.97% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.05% on Monday, hitting $73.21. 577,956 shares of the stock were exchanged. The company has a 50-day moving average of $73.84 and a 200 day moving average of $72.14. The firm has a market cap of $65.27 billion, a P/E ratio of 47.14 and a beta of 0.59. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Co. will post $2.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.13%. Colgate-Palmolive’s payout ratio is 100.65%.
Several research firms have commented on CL. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. Citigroup Inc. lifted their target price on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. KeyCorp began coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. Deutsche Bank AG reissued a “hold” rating and set a $75.00 target price (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Finally, BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Friday, July 29th. Fifteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $74.46.
In related news, Director Ellen M. Hancock sold 4,584 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total transaction of $342,974.88. Following the completion of the transaction, the director now owns 203,632 shares of the company’s stock, valued at $15,235,746.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.85, for a total value of $275,472.90. Following the transaction, the insider now directly owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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