Kanawha Capital Management LLC reduced its position in Colgate-Palmolive Co. (NYSE:CL) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 102,359 shares of the company’s stock after selling 2,114 shares during the period. Kanawha Capital Management LLC’s holdings in Colgate-Palmolive were worth $7,493,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares during the period. Bank of Montreal Can acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $64,888,000. State Street Corp raised 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 during the last quarter. BlackRock Fund Advisors raised its stake in Colgate-Palmolive by 3.5% in the first quarter. BlackRock Fund Advisors now owns 12,314,096 shares of the company’s stock valued at $869,991,000 after buying an additional 413,740 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $27,088,000. 72.95% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded down 0.242% during mid-day trading on Monday, hitting $72.135. The stock had a trading volume of 1,252,061 shares. The stock has a market cap of $64.31 billion, a P/E ratio of 46.449 and a beta of 0.63. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The firm has a 50 day moving average of $73.15 and a 200-day moving average of $72.54.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the company earned $0.70 earnings per share. Colgate-Palmolive’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Co. will post $2.79 earnings per share for the current fiscal year.
The firm 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 $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 100.65%.
Several equities research analysts have recently commented on CL shares. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their price target for the company from $70.86 to $80.00 in a research report on Monday, September 12th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Finally, Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.68.
In other news, Director Stephen I. Sadove sold 8,803 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.28, for a total value of $653,886.84. Following the sale, the director now directly owns 26,474 shares of the company’s stock, valued at $1,966,488.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,834 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, September 15th. The stock was 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 directly owns 55,013 shares in the company, valued at $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is 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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