Neuberger Berman Group LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,740,628 shares of the company’s stock after acquiring an additional 11,112 shares during the quarter. Neuberger Berman Group LLC owned about 0.21% of Colgate-Palmolive worth $140,717,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Horan Securities Inc. boosted its holdings in Colgate-Palmolive by 60.1% during the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock worth $28,000 after buying an additional 128 shares in the last quarter. Cowen Prime Advisors LLC bought a new stake in Colgate-Palmolive during the second quarter worth approximately $28,000. Perennial Advisors LLC bought a new stake in Colgate-Palmolive during the second quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new stake in Colgate-Palmolive during the second quarter worth approximately $32,000. Finally, First PREMIER Bank bought a new stake in Colgate-Palmolive during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
In related news, insider Sally Massey sold 610 shares of Colgate-Palmolive stock in a transaction on Tuesday, September 14th. The shares were sold at an average price of $77.18, for a total value of $47,079.80. Following the transaction, the insider now owns 7,510 shares in the company, valued at approximately $579,621.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Daniels sold 20,290 shares of Colgate-Palmolive stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $79.11, for a total transaction of $1,605,141.90. The disclosure for this sale can be found here. Insiders have sold a total of 22,798 shares of company stock worth $1,800,304 in the last 90 days. 0.32% of the stock is owned by insiders.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 29th. The company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.24 billion. Colgate-Palmolive had a net margin of 15.98% and a return on equity of 293.48%. Colgate-Palmolive’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Equities research analysts expect that Colgate-Palmolive will post 3.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 21st will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, October 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. Colgate-Palmolive’s dividend payout ratio is currently 58.82%.
A number of equities analysts recently commented on CL shares. Evercore ISI reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, June 20th. UBS Group started coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $84.00 to $86.00 in a research note on Monday, September 20th. Finally, Bank of America started coverage on shares of Colgate-Palmolive in a research note on Tuesday, October 5th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.69.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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