Great West Life Assurance Co. Can raised its holdings in Colgate-Palmolive (NYSE:CL) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,151,141 shares of the company’s stock after acquiring an additional 133,786 shares during the period. Great West Life Assurance Co. Can’s holdings in Colgate-Palmolive were worth $78,664,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Capital Financial Planning LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $27,000. Timber Creek Capital Management LLC increased its position in shares of Colgate-Palmolive by 247.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock valued at $28,000 after purchasing an additional 336 shares during the last quarter. Parisi Gray Wealth Management increased its position in shares of Colgate-Palmolive by 365.3% during the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock valued at $28,000 after purchasing an additional 369 shares during the last quarter. Portfolio Solutions LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $30,000. Finally, WP Advisors LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 74.63% of the company’s stock.
In related news, Chairman Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $71.20, for a total transaction of $1,388,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ian M. Cook sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $1,067,520.00. Following the transaction, the chief executive officer now owns 1,146,793 shares in the company, valued at $76,514,028.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,211 shares of company stock worth $23,724,495. 1.14% of the stock is owned by corporate insiders.
CL opened at $71.20 on Friday. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.74 and a current ratio of 1.07. 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 P/E ratio of 23.97, a P/E/G ratio of 4.69 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the company earned $0.74 EPS. Colgate-Palmolive’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.42%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
Several brokerages have recently commented on CL. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. ValuEngine upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, March 19th. Morgan Stanley increased their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, UBS Group increased their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, March 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.53.
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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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