Blue Fin Capital Inc. lowered its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 20,968 shares of the company’s stock after selling 420 shares during the period. Colgate-Palmolive comprises 1.3% of Blue Fin Capital Inc.’s portfolio, making the stock its 23rd largest position. Blue Fin Capital Inc.’s holdings in Colgate-Palmolive were worth $1,535,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Tompkins Financial Corp boosted its stake in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock valued at $124,000 after buying an additional 930 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock valued at $132,000 after buying an additional 400 shares during the period. FCM Investments TX acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $132,000. Orrstown Financial Services Inc. boosted its stake in Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock valued at $167,000 after buying an additional 480 shares during the period. Finally, ClariVest Asset Management LLC acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $198,000. 72.95% of the stock is currently owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.242% during trading on Monday, reaching $72.135. The company’s stock had a trading volume of 1,252,061 shares. Colgate-Palmolive Co. has a one year low of $61.40 and a one year high of $75.38. The firm has a market capitalization of $64.31 billion, a P/E ratio of 46.449 and a beta of 0.63. The stock 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 earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 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 prior year, the business earned $0.70 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.16%. Colgate-Palmolive’s payout ratio is 100.65%.
Several research analysts have issued reports on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Monday, October 3rd. Citigroup Inc. raised their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research report on Friday, July 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $75.00 target price (up 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 assigned a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $74.68.
In related news, insider Patricia Verduin sold 3,834 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 55,013 shares of the company’s stock, valued at approximately $3,952,684.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen M. Hancock sold 4,584 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.82, for a total value of $342,974.88. Following the completion of the transaction, the director now directly owns 203,632 shares of the company’s stock, valued at approximately $15,235,746.24. The disclosure for this sale can be found here. 1.05% of the stock is owned by 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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