Burke & Herbert Bank & Trust Co. maintained its position in Colgate-Palmolive Co. (NYSE:CL) during the second quarter, Holdings Channel reports. The institutional investor owned 6,733 shares of the company’s stock at the end of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $493,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service raised its position in Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock worth $31,652,000 after buying an additional 17,928 shares in the last quarter. Legal & General Group Plc raised its position in Colgate-Palmolive by 1.3% in the first quarter. Legal & General Group Plc now owns 3,953,265 shares of the company’s stock worth $279,300,000 after buying an additional 50,393 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock worth $21,153,000 after buying an additional 13,835 shares in the last quarter. Aviva PLC raised its position in Colgate-Palmolive by 1.3% in the first quarter. Aviva PLC now owns 531,710 shares of the company’s stock worth $37,565,000 after buying an additional 7,069 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Colgate-Palmolive during the second quarter worth approximately $64,888,000. Institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.42% during trading on Thursday, reaching $73.28. 2,561,692 shares of the company traded hands. The firm has a 50-day moving average price of $73.54 and a 200-day moving average price of $72.44. The firm has a market capitalization of $65.33 billion, a PE ratio of 47.19 and a beta of 0.63. 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 earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. Colgate-Palmolive’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Equities research analysts anticipate that Colgate-Palmolive Co. will post $2.80 EPS for the current 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.13%. Colgate-Palmolive’s payout ratio is 100.65%.
CL has been the topic of several analyst reports. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their target price for the company from $70.86 to $80.00 in a report on Monday, September 12th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a report on Friday, July 29th. Goldman Sachs Group Inc. reaffirmed 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. Finally, Exane BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive currently 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 firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $75.16, for a total transaction of $1,127,400.00. Following the completion of the transaction, the chief operating officer now owns 188,029 shares in the company, valued at approximately $14,132,259.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $275,472.90. Following the transaction, the insider now 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. 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.
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