Whittier Trust Co. of Nevada Inc. continued to hold its stake in Colgate-Palmolive Co. (NYSE:CL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,582 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Colgate-Palmolive were worth $1,141,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Colgate-Palmolive by 4.2% in the first quarter. National Pension Service now owns 448,007 shares of the company’s stock valued at $31,652,000 after buying an additional 17,928 shares in the last quarter. Legal & General Group Plc increased its stake 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 valued at $279,300,000 after buying an additional 50,393 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Colgate-Palmolive by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 288,977 shares of the company’s stock valued at $21,153,000 after buying an additional 13,835 shares in the last quarter. Artemis Investment Management LLP increased its stake in Colgate-Palmolive by 30.3% in the second quarter. Artemis Investment Management LLP now owns 275,846 shares of the company’s stock valued at $20,188,000 after buying an additional 64,100 shares in the last quarter. Finally, Aviva PLC increased its stake in Colgate-Palmolive by 1.3% in the first quarter. Aviva PLC now owns 531,710 shares of the company’s stock valued at $37,565,000 after buying an additional 7,069 shares in the last quarter. 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, hitting $73.05. The company had a trading volume of 3,316,007 shares. The company has a market capitalization of $65.12 billion, a price-to-earnings ratio of 47.04 and a beta of 0.63. The company’s 50-day moving average price is $73.46 and its 200 day moving average price is $72.46. Colgate-Palmolive Co. has a 12-month low of $61.40 and a 12-month high of $75.38.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating 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 business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts predict that Colgate-Palmolive Co. will post $2.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s payout ratio is 100.65%.
Several analysts have issued reports on CL shares. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Bank of America Corp. raised 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 research report on Monday, September 12th. KeyCorp initiated coverage on Colgate-Palmolive in a research report on Thursday, September 8th. They issued a “sector weight” rating on the stock. Exane BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 target price (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $74.68.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the sale, the insider now owns 55,013 shares in the company, valued at approximately $3,952,684.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Noel R. Wallace sold 78,849 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the completion of the sale, the chief operating officer now owns 236,295 shares of the company’s stock, valued at approximately $17,648,873.55. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
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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