Boston Advisors LLC reduced its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 70.9% during the second quarter, Holdings Channel reports. The firm owned 181,839 shares of the company’s stock after selling 443,903 shares during the period. Boston Advisors LLC’s holdings in Colgate-Palmolive were worth $13,311,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Northstar Group Inc. increased its position in Colgate-Palmolive by 0.4% in the second quarter. Northstar Group Inc. now owns 4,994 shares of the company’s stock valued at $366,000 after buying an additional 18 shares in the last quarter. Pitcairn Co. increased its position in shares of Colgate-Palmolive by 0.8% in the second quarter. Pitcairn Co. now owns 6,664 shares of the company’s stock worth $488,000 after buying an additional 50 shares during the period. Capital Investment Advisors LLC increased its position in shares of Colgate-Palmolive by 0.7% in the second quarter. Capital Investment Advisors LLC now owns 8,112 shares of the company’s stock worth $594,000 after buying an additional 58 shares during the period. Carroll Financial Associates Inc. increased its position in shares of Colgate-Palmolive by 1.1% in the second quarter. Carroll Financial Associates Inc. now owns 5,291 shares of the company’s stock worth $387,000 after buying an additional 60 shares during the period. Finally, Evanson Asset Management LLC increased its position in shares of Colgate-Palmolive by 0.5% in the second quarter. Evanson Asset Management LLC now owns 11,866 shares of the company’s stock worth $869,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.42% on Thursday, reaching $73.29. 2,944,761 shares of the company’s stock traded hands. The stock has a 50-day moving average of $73.69 and a 200 day moving average of $72.30. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The firm has a market capitalization of $65.34 billion, a P/E ratio of 47.19 and a beta of 0.59.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts expect 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. Shareholders of record on Monday, October 24th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s payout ratio is 100.65%.
A number of brokerages 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 note 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 note on Friday, July 29th. KeyCorp began coverage on shares of Colgate-Palmolive in a research note on Thursday, September 8th. They set a “sector weight” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. Finally, BNP Paribas downgraded 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 note on Friday, July 29th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $74.46.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total value of $275,472.90. Following the sale, the insider now directly owns 55,013 shares in the company, valued at $3,952,684.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Franck J. Moison sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $75.16, for a total value of $1,127,400.00. Following the completion of the sale, the chief operating officer now owns 188,029 shares in the company, valued at $14,132,259.64. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
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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