Jones Financial Companies Lllp increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 12.3% during the second quarter, HoldingsChannel reports. The firm owned 8,317 shares of the company’s stock after buying an additional 909 shares during the period. Jones Financial Companies Lllp’s holdings in Colgate-Palmolive were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Hugh Johnson Advisors LLC lifted its holdings in Colgate-Palmolive by 8.0% in the second quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock valued at $704,000 after acquiring an additional 801 shares during the period. Amalgamated Bank lifted its holdings in Colgate-Palmolive by 0.7% in the first quarter. Amalgamated Bank now owns 110,439 shares of the company’s stock valued at $7,916,000 after acquiring an additional 806 shares during the period. CHICAGO TRUST Co NA lifted its holdings in Colgate-Palmolive by 24.5% in the first quarter. CHICAGO TRUST Co NA now owns 4,114 shares of the company’s stock valued at $295,000 after acquiring an additional 810 shares during the period. Global X Management Co. LLC lifted its holdings in Colgate-Palmolive by 7.2% in the first quarter. Global X Management Co. LLC now owns 12,371 shares of the company’s stock valued at $887,000 after acquiring an additional 829 shares during the period. Finally, Bank of The Ozarks lifted its holdings in Colgate-Palmolive by 5.9% in the first quarter. Bank of The Ozarks now owns 15,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 841 shares during the period. 74.05% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CL opened at $67.50 on Friday. The company has a debt-to-equity ratio of -34.49, a quick ratio of 0.74 and a current ratio of 1.06. Colgate-Palmolive has a 52 week low of $61.28 and a 52 week high of $77.91. The stock has a market capitalization of $56.78 billion, a PE ratio of 23.52, a P/E/G ratio of 2.93 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities analysts predict that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.
Colgate-Palmolive announced that its board has initiated a stock repurchase program on Monday, June 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.54%.
In related news, VP Justin Skala sold 90,069 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $66.36, for a total transaction of $5,976,978.84. Following the completion of the sale, the vice president now owns 65,061 shares in the company, valued at $4,317,447.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel B. Marsili sold 19,500 shares of the stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $63.25, for a total value of $1,233,375.00. Following the sale, the insider now owns 78,065 shares of the company’s stock, valued at approximately $4,937,611.25. The disclosure for this sale can be found here. Insiders sold 433,302 shares of company stock worth $28,518,498 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.
A number of research analysts have weighed in on the company. Citigroup lowered their target price on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Morgan Stanley lowered their target price on Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 21st. Barclays set a $70.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Monday, April 30th. Stifel Nicolaus decreased their price objective on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, July 23rd. Finally, Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $72.14.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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