AustralianSuper Pty Ltd lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 388,700 shares of the company’s stock after selling 30,300 shares during the period. AustralianSuper Pty Ltd’s holdings in Colgate-Palmolive were worth $26,023,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CL. CSat Investment Advisory L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $111,000. Bridgeworth LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $120,000. Price Capital Management Inc. bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $121,000. Fort L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $123,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $123,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
In related news, VP Philip G. Shotts sold 462 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $30,977.10. Following the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at approximately $2,765,812.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now directly owns 36,193 shares in the company, valued at $2,426,740.65. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
Shares of NYSE:CL opened at $63.24 on Monday. The stock has a market capitalization of $54.85 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.77 and a current ratio of 1.11. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $77.91.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.73 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.54%.
A number of equities research analysts have commented on the company. Barclays set a $64.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Wells Fargo & Co dropped their price objective on Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, October 29th. UBS Group set a $71.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research note on Wednesday, October 17th. Macquarie downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $65.00 in a research note on Monday, July 30th. Finally, Atlantic Securities started coverage on Colgate-Palmolive in a research note on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $68.06.
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Colgate-Palmolive Company Profile
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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