Checchi Capital Advisers LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor owned 6,455 shares of the company’s stock after selling 405 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Colgate-Palmolive were worth $442,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Vanguard Group Inc boosted its position in shares of Colgate-Palmolive by 1.0% in the third quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock valued at $4,922,224,000 after acquiring an additional 734,860 shares during the period. UMB Bank N A MO boosted its position in shares of Colgate-Palmolive by 4.7% in the fourth quarter. UMB Bank N A MO now owns 35,468 shares of the company’s stock valued at $2,111,000 after acquiring an additional 1,604 shares during the period. Calamos Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $265,000. Virginia National Bank boosted its position in shares of Colgate-Palmolive by 18.8% in the fourth quarter. Virginia National Bank now owns 3,800 shares of the company’s stock valued at $226,000 after acquiring an additional 600 shares during the period. Finally, CWM LLC boosted its position in shares of Colgate-Palmolive by 322.5% in the fourth quarter. CWM LLC now owns 42,431 shares of the company’s stock valued at $2,525,000 after acquiring an additional 32,387 shares during the period. 75.69% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co restated a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, January 31st. Jefferies Financial Group lifted their target price on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Citigroup set a $68.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, March 19th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “sell” rating in a research report on Monday, April 15th. Finally, Credit Suisse Group assumed coverage on shares of Colgate-Palmolive in a research report on Wednesday, March 6th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $69.53.
In other Colgate-Palmolive news, Chairman Ian M. Cook sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $71.20, for a total transaction of $1,388,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ian M. Cook sold 16,000 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $1,067,520.00. Following the transaction, the chief executive officer now directly owns 1,146,793 shares in the company, valued at $76,514,028.96. The disclosure for this sale can be found here. Insiders have sold 335,211 shares of company stock worth $23,724,495 over the last three months. Insiders own 1.14% of the company’s stock.
Shares of Colgate-Palmolive stock opened at $71.20 on Monday. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $73.10. The company has a market cap of $61.13 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 4.66 and a beta of 0.81. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. Colgate-Palmolive’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts predict that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a dividend of $0.43 per share. The ex-dividend date was Wednesday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.
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Colgate-Palmolive Company Profile
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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