Advisory Services Network LLC increased its stake in Colgate-Palmolive Co. (NYSE:CL) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,455 shares of the company’s stock after buying an additional 514 shares during the period. Advisory Services Network LLC’s holdings in Colgate-Palmolive were worth $2,083,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Forte Capital LLC ADV bought a new stake in shares of Colgate-Palmolive during the first quarter valued at $330,000. Douglas Lane & Associates LLC bought a new stake in shares of Colgate-Palmolive during the first quarter valued at $13,008,000. Wilbanks Smith & Thomas Asset Management LLC increased its stake in shares of Colgate-Palmolive by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 52,651 shares of the company’s stock valued at $3,720,000 after buying an additional 148 shares in the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Colgate-Palmolive by 35.4% in the first quarter. Chesley Taft & Associates LLC now owns 26,802 shares of the company’s stock valued at $1,894,000 after buying an additional 7,005 shares in the last quarter. Finally, Wade G W & Inc. increased its stake in shares of Colgate-Palmolive by 5.3% in the first quarter. Wade G W & Inc. now owns 102,437 shares of the company’s stock valued at $7,237,000 after buying an additional 5,149 shares in the last quarter. 72.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.23% during mid-day trading on Wednesday, reaching $72.97. The company’s stock had a trading volume of 2,365,496 shares. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38. The firm’s 50 day moving average is $73.54 and its 200-day moving average is $72.44. The company has a market capitalization of $65.05 billion, a PE ratio of 46.99 and a beta of 0.63.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Co. will post $2.80 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 100.65%.
Several equities research analysts recently weighed in on CL shares. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price target (up from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. B. Riley reiterated a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research report on Friday, July 29th. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research report on Friday, July 29th. Finally, Citigroup Inc. increased their price objective on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $74.68.
In other news, COO Franck J. Moison sold 15,000 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Patricia Verduin sold 3,666 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $74.98, for a total value of $274,876.68. Following the completion of the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at approximately $4,094,057.96. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
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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