Janney Montgomery Scott LLC increased its position in shares of Colgate-Palmolive (NYSE:CL) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,243 shares of the company’s stock after purchasing an additional 22,288 shares during the period. Janney Montgomery Scott LLC’s holdings in Colgate-Palmolive were worth $14,886,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC boosted its stake in Colgate-Palmolive by 4.6% in the fourth quarter. Bristlecone Advisors LLC now owns 24,076 shares of the company’s stock worth $1,657,000 after purchasing an additional 1,054 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in Colgate-Palmolive by 18.3% in the fourth quarter. Baystate Wealth Management LLC now owns 1,347 shares of the company’s stock worth $93,000 after purchasing an additional 208 shares in the last quarter. Birch Hill Investment Advisors LLC boosted its stake in Colgate-Palmolive by 5.4% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 204,369 shares of the company’s stock worth $14,069,000 after purchasing an additional 10,495 shares in the last quarter. Gould Asset Management LLC CA boosted its stake in Colgate-Palmolive by 20.4% in the fourth quarter. Gould Asset Management LLC CA now owns 5,015 shares of the company’s stock worth $345,000 after purchasing an additional 850 shares in the last quarter. Finally, Manchester Financial Inc. acquired a new position in Colgate-Palmolive in the fourth quarter worth $44,000. Institutional investors and hedge funds own 76.72% of the company’s stock.
Several equities analysts have recently issued reports on CL shares. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $78.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Deutsche Bank upped their price target on Colgate-Palmolive from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Bank of America lowered Colgate-Palmolive from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $74.00 in a research note on Thursday, December 19th. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 price target on the stock. in a research note on Monday, November 4th. Finally, Morgan Stanley set a $71.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $72.85.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. Colgate-Palmolive’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, research analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 23rd will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.44%. Colgate-Palmolive’s payout ratio is 57.91%.
In other news, Chairman Ian M. Cook sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.70, for a total value of $1,067,200.00. Following the completion of the sale, the chairman now directly owns 1,099,361 shares of the company’s stock, valued at $73,327,378.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.73, for a total value of $1,379,235.00. Following the completion of the sale, the chairman now directly owns 1,044,361 shares of the company’s stock, valued at $73,867,653.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,000 shares of company stock valued at $5,948,528. Insiders own 1.14% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
Recommended Story: What is a balanced fund?
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.