Envestnet Asset Management Inc. lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 64.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 610,308 shares of the company’s stock after buying an additional 238,190 shares during the period. Envestnet Asset Management Inc.’s holdings in Colgate-Palmolive were worth $44,864,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Lipe & Dalton purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $29,000. Enterprise Trust & Investment Co purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $36,000. Manchester Financial Inc. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $46,000. Finally, Pathstone Family Office LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $54,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive stock opened at $68.03 on Monday. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $76.41. The company has a market capitalization of $58.41 billion, a P/E ratio of 22.91, a P/E/G ratio of 4.48 and a beta of 0.75. The business has a 50 day moving average price of $71.83 and a 200 day moving average price of $71.69.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities research analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 23rd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.72 annualized dividend and a yield of 2.53%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
CL has been the topic of several research analyst reports. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research note on Tuesday, August 13th. They set an “overweight” rating on the stock. Berenberg Bank assumed coverage on Colgate-Palmolive in a research report on Wednesday, October 16th. They set a “sell” rating and a $58.00 price objective for the company. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday, July 12th. Deutsche Bank lifted their price objective on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, UBS Group lifted their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $73.40.
In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 858 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.60, for a total value of $64,006.80. Following the completion of the transaction, the chief financial officer now directly owns 39,031 shares in the company, valued at approximately $2,911,712.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Henning I. Jakobsen sold 33,854 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total value of $2,486,576.30. Following the completion of the transaction, the chief financial officer now owns 73,693 shares of the company’s stock, valued at $5,412,750.85. The disclosure for this sale can be found here. Insiders sold a total of 567,548 shares of company stock valued at $40,703,240 over the last quarter. 1.14% of the stock is currently owned by insiders.
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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