Montag & Caldwell LLC reduced its position in Colgate-Palmolive (NYSE:CL) by 25.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,000 shares of the company’s stock after selling 1,400 shares during the period. Montag & Caldwell LLC’s holdings in Colgate-Palmolive were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CL. FMR LLC increased its position in Colgate-Palmolive by 29.1% in the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after buying an additional 1,665,348 shares during the last quarter. Ronna Sue Cohen increased its position in Colgate-Palmolive by 6,221.2% in the first quarter. Ronna Sue Cohen now owns 854,749 shares of the company’s stock worth $855,000 after buying an additional 841,227 shares during the last quarter. Geode Capital Management LLC increased its position in Colgate-Palmolive by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after buying an additional 768,550 shares during the last quarter. FIL Ltd increased its position in Colgate-Palmolive by 9.6% in the first quarter. FIL Ltd now owns 7,972,928 shares of the company’s stock worth $546,465,000 after buying an additional 695,987 shares during the last quarter. Finally, CIBC World Markets Inc. increased its position in Colgate-Palmolive by 834.5% in the first quarter. CIBC World Markets Inc. now owns 631,073 shares of the company’s stock worth $43,254,000 after buying an additional 563,545 shares during the last quarter. 75.64% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Friday, June 7th. ValuEngine downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Deutsche Bank raised their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Piper Jaffray Companies assumed coverage on Colgate-Palmolive in a research report on Tuesday. They issued an “overweight” rating for the company. Finally, JPMorgan Chase & Co. raised Colgate-Palmolive from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $62.00 to $70.00 in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $73.13.
In related news, insider Ian M. Cook sold 175,616 shares of Colgate-Palmolive stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.65, for a total transaction of $12,758,502.40. Following the completion of the sale, the insider now owns 1,125,842 shares of the company’s stock, valued at $81,792,421.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ian M. Cook sold 19,500 shares of Colgate-Palmolive stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total value of $1,363,440.00. Following the sale, the insider now directly owns 1,186,042 shares of the company’s stock, valued at approximately $82,928,056.64. The disclosure for this sale can be found here. Insiders have sold 491,294 shares of company stock valued at $35,342,943 in the last three months. 1.14% of the stock is owned by corporate insiders.
Shares of NYSE CL traded up $0.84 during mid-day trading on Thursday, hitting $71.37. The company had a trading volume of 1,256,747 shares, compared to its average volume of 3,770,068. The firm has a market capitalization of $60.70 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 4.55 and a beta of 0.76. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $76.41. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.13 and a quick ratio of 0.78. The business’s 50-day simple moving average is $72.58.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, research analysts forecast that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
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.
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