Ariel Capital Advisors LLC continued to hold its stake in Colgate-Palmolive Co. (NYSE:CL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,567 shares of the company’s stock at the end of the second quarter. Ariel Capital Advisors LLC’s holdings in Colgate-Palmolive were worth $1,945,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in CL. Wellington Management Group LLP boosted its stake in Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock valued at $2,900,908,000 after buying an additional 7,453,260 shares in the last quarter. Bank of Montreal Can acquired a new stake in Colgate-Palmolive during the second quarter valued at about $64,888,000. State Street Corp boosted its stake in Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock valued at $4,403,835,000 after buying an additional 742,556 shares in the last quarter. Sarasin & Partners LLP boosted its stake in Colgate-Palmolive by 32.3% in the first quarter. Sarasin & Partners LLP now owns 2,458,570 shares of the company’s stock valued at $173,698,000 after buying an additional 600,457 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Colgate-Palmolive by 25.1% in the first quarter. Prudential Financial Inc. now owns 2,082,782 shares of the company’s stock valued at $147,149,000 after buying an additional 418,330 shares in the last quarter. Hedge funds and other institutional investors own 72.97% of the company’s stock.
Colgate-Palmolive Co. (NYSE:CL) traded up 0.23% on Wednesday, reaching $72.97. The company’s stock had a trading volume of 2,365,496 shares. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 46.99 and a beta of 0.63. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The company has a 50 day moving average of $73.54 and a 200 day moving average of $72.44.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. On average, analysts forecast that Colgate-Palmolive Co. will post $2.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is 100.65%.
Several analysts recently issued reports on CL shares. Bank of America Corp. upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their target price for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. JPMorgan Chase & Co. restated a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a report on Friday, July 29th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. Finally, Exane BNP Paribas cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $74.68.
In related news, COO Noel R. Wallace sold 78,849 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the transaction, the chief operating officer now owns 236,295 shares of the company’s stock, valued at $17,648,873.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $342,974.88. Following the transaction, the director now directly owns 203,632 shares in the company, valued at approximately $15,235,746.24. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
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.
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 Co. (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Co. and related companies with MarketBeat.com's FREE daily email newsletter.