Family Capital Trust Co reduced its position in Colgate-Palmolive Co. (NYSE:CL) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 63,110 shares of the company’s stock after selling 395 shares during the period. Colgate-Palmolive makes up about 2.7% of Family Capital Trust Co’s investment portfolio, making the stock its 9th largest position. Family Capital Trust Co’s holdings in Colgate-Palmolive were worth $4,620,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CL. Badgley Phelps & Bell Inc. increased its stake in Colgate-Palmolive by 1.2% in the first quarter. Badgley Phelps & Bell Inc. now owns 109,277 shares of the company’s stock worth $7,720,000 after buying an additional 1,309 shares during the period. IFP Advisors Inc increased its stake in Colgate-Palmolive by 22.7% in the first quarter. IFP Advisors Inc now owns 24,207 shares of the company’s stock worth $1,710,000 after buying an additional 4,476 shares during the period. Hyman Charles D purchased a new stake in Colgate-Palmolive during the first quarter worth $5,114,000. Torray LLC increased its stake in Colgate-Palmolive by 38.3% in the first quarter. Torray LLC now owns 823,047 shares of the company’s stock worth $58,148,000 after buying an additional 227,755 shares during the period. Finally, Addenda Capital Inc. increased its stake in Colgate-Palmolive by 0.3% in the first quarter. Addenda Capital Inc. now owns 23,940 shares of the company’s stock worth $1,692,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 72.97% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.37% during mid-day trading on Wednesday, hitting $72.47. 1,152,293 shares of the company’s stock traded hands. Colgate-Palmolive Co. has a 52 week low of $61.40 and a 52 week high of $75.38. The company has a market cap of $64.61 billion, a PE ratio of 46.66 and a beta of 0.63. The firm has a 50-day moving average of $73.34 and a 200 day moving average of $72.52.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 28th. The company reported $0.70 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 company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be issued 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 dividend yield of 2.16%. Colgate-Palmolive’s dividend payout ratio is presently 100.65%.
A number of equities research analysts recently weighed in on CL shares. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Deutsche Bank AG reissued a “hold” rating and set a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. B. Riley reissued a “neutral” rating and set a $71.00 target price on shares of Colgate-Palmolive in a research report on Friday, July 29th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a report on Friday, July 29th. Finally, Citigroup Inc. lifted their price objective on Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” 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. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $74.68.
In related news, Director Ellen M. Hancock sold 4,584 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $74.82, for a total transaction of $342,974.88. Following the sale, the director now owns 203,632 shares in the company, valued at approximately $15,235,746.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,834 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total transaction of $275,472.90. Following the sale, the insider now owns 55,013 shares in the company, valued at approximately $3,952,684.05. The disclosure for this sale can be found here. 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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