Beacon Investment Advisory Services Inc. purchased a new stake in Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,069 shares of the company’s stock, valued at approximately $1,171,000.
Other large investors also recently made changes to their positions in the company. Blue Chip Partners Inc. grew its holdings in shares of Colgate-Palmolive by 0.4% during the second quarter. Blue Chip Partners Inc. now owns 1,813 shares of the company’s stock worth $134,000 after purchasing an additional 8 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Colgate-Palmolive by 1.5% during the second quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after purchasing an additional 25 shares during the last quarter. Weatherstone Capital Management grew its holdings in shares of Colgate-Palmolive by 0.7% during the second quarter. Weatherstone Capital Management now owns 4,069 shares of the company’s stock worth $302,000 after purchasing an additional 28 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Colgate-Palmolive by 0.6% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 5,642 shares of the company’s stock worth $419,000 after purchasing an additional 34 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. grew its holdings in shares of Colgate-Palmolive by 0.5% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 7,028 shares of the company’s stock worth $521,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.
In related news, insider Jennifer Daniels sold 902 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the transaction, the insider now owns 37,788 shares in the company, valued at $2,865,086.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the transaction, the director now directly owns 36,268 shares in the company, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,950 shares of company stock worth $13,237,385. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. equities analysts forecast that Colgate-Palmolive will post 2.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is 61.78%.
CL has been the topic of several research analyst reports. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, October 23rd. Deutsche Bank initiated coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price on the stock. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Finally, Macquarie upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price on the stock in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $76.45.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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