Flossbach Von Storch AG raised its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,650 shares of the company’s stock after buying an additional 61,860 shares during the period. Colgate-Palmolive makes up 0.5% of Flossbach Von Storch AG’s holdings, making the stock its 27th largest position. Flossbach Von Storch AG’s holdings in Colgate-Palmolive were worth $28,669,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Sanders Morris Harris Inc. acquired a new position in Colgate-Palmolive during the first quarter valued at approximately $276,000. Arvest Bank Trust Division raised its position in Colgate-Palmolive by 2.7% in the first quarter. Arvest Bank Trust Division now owns 250,497 shares of the company’s stock valued at $17,698,000 after buying an additional 6,607 shares during the period. Telemus Capital LLC raised its position in Colgate-Palmolive by 136.2% in the first quarter. Telemus Capital LLC now owns 10,643 shares of the company’s stock valued at $752,000 after buying an additional 6,137 shares during the period. Commonwealth Equity Services Inc raised its position in Colgate-Palmolive by 3.3% in the first quarter. Commonwealth Equity Services Inc now owns 223,599 shares of the company’s stock valued at $15,797,000 after buying an additional 7,183 shares during the period. Finally, Sarasin & Partners LLP raised its position 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 during the period. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.31% during midday trading on Friday, reaching $73.05. 3,316,007 shares of the company were exchanged. The company’s 50-day moving average price is $73.46 and its 200 day moving average price is $72.46. The stock has a market capitalization of $65.12 billion, a price-to-earnings ratio of 47.04 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.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (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 had revenue of $3.85 billion for the quarter, compared to the consensus estimate 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. On average, equities analysts predict that Colgate-Palmolive Co. will post $2.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 100.65%.
CL has been the topic of several recent analyst reports. Goldman Sachs Group Inc. reissued 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 price objective (up previously from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. B. Riley restated a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research note on Friday, July 29th. BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research note on Friday, July 29th. Finally, Citigroup Inc. upped their price objective on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research note 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 company presently has a consensus rating of “Hold” and a consensus price target of $74.68.
In other news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen I. Sadove sold 8,803 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $74.28, for a total transaction of $653,886.84. Following the sale, the director now directly owns 26,474 shares of the company’s stock, valued at approximately $1,966,488.72. The disclosure for this sale can be found here. Corporate 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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