Tufton Capital Management decreased its position in Colgate-Palmolive Co. (NYSE:CL) by 7.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 81,907 shares of the company’s stock after selling 6,714 shares during the period. Tufton Capital Management’s holdings in Colgate-Palmolive were worth $5,996,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Tompkins Financial Corp raised its position in shares of Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock worth $124,000 after buying an additional 930 shares during the period. Arcadia Investment Management Corp MI raised its position in shares of Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock worth $132,000 after buying an additional 400 shares during the period. FCM Investments TX acquired a new position in shares of Colgate-Palmolive during the second quarter worth approximately $132,000. Orrstown Financial Services Inc. raised its position in shares of Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock worth $167,000 after buying an additional 480 shares during the period. Finally, Highland Private Wealth Management acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $200,000. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.19% during midday trading on Wednesday, reaching $73.60. 2,684,990 shares of the company’s stock were exchanged. Colgate-Palmolive Co. has a 12-month low of $61.40 and a 12-month high of $75.38. The firm has a 50-day moving average of $73.74 and a 200-day moving average of $72.29. The stock has a market capitalization of $65.61 billion, a P/E ratio of 47.39 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period last year, the company posted $0.70 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive Co. will post $2.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be given a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.12%. Colgate-Palmolive’s dividend payout ratio is 100.65%.
A number of equities analysts have recently commented on CL shares. Atlantic Securities started coverage on shares of Colgate-Palmolive in a report on Wednesday, June 1st. They set an “overweight” rating on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $76.00 target price (up previously from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and issued a $75.00 target price (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. B. Riley restated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a report on Friday, July 29th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $74.46.
In related news, Director Ellen M. Hancock sold 4,584 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 2nd. The shares were 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 directly owns 203,632 shares of the company’s stock, valued at approximately $15,235,746.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patricia Verduin sold 3,834 shares of Colgate-Palmolive stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.85, for a total transaction of $275,472.90. Following the transaction, the insider now directly owns 55,013 shares of the company’s stock, valued at $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is currently 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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