Middleton & Co Inc MA decreased its holdings in Colgate-Palmolive (NYSE:CL) by 18.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,882 shares of the company’s stock after selling 14,853 shares during the quarter. Middleton & Co Inc MA’s holdings in Colgate-Palmolive were worth $4,843,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Krane Funds Advisors LLC acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $25,000. Julex Capital Management LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $27,000. Lipe & Dalton acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $29,000. Enterprise Trust & Investment Co acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $36,000. Finally, Manchester Financial Inc. acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 76.06% of the company’s stock.
In related news, insider Ian M. Cook sold 175,616 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.65, for a total value of $12,758,502.40. Following the completion of the transaction, the insider now directly owns 1,125,842 shares of the company’s stock, valued at approximately $81,792,421.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Henning I. Jakobsen sold 33,854 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 directly 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 have sold a total of 567,548 shares of company stock worth $40,703,240 over the last quarter. Insiders own 1.14% of the company’s stock.
CL has been the topic of several research reports. Morgan Stanley upped their price objective on Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. UBS Group upped their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Co upped their price objective on Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research note on Tuesday, August 13th. They set an “overweight” rating on the stock. Finally, Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $73.40.
Shares of Colgate-Palmolive stock traded down $0.13 on Monday, reaching $67.90. 102,345 shares of the company were exchanged, compared to its average volume of 3,261,789. The company’s 50-day moving average is $71.83 and its two-hundred day moving average is $71.69. The firm has a market cap of $58.41 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 4.48 and a beta of 0.75. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $76.41.
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, hitting analysts’ consensus estimates of $0.72. The business had revenue of $3.87 billion for 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Research analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is 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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