Financial Gravity Asset Management Inc. cut its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 70.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,854 shares of the company’s stock after selling 6,815 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Colgate-Palmolive were worth $200,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock valued at $185,376,000 after acquiring an additional 94,837 shares in the last quarter. Covestor Ltd grew its position in Colgate-Palmolive by 71.9% in the 1st quarter. Covestor Ltd now owns 2,451 shares of the company’s stock worth $186,000 after purchasing an additional 1,025 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Colgate-Palmolive by 8.5% during the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock worth $142,774,000 after acquiring an additional 146,936 shares during the period. First Western Trust Bank purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth about $569,000. Finally, Wsfs Capital Management LLC bought a new position in Colgate-Palmolive during the first quarter valued at about $288,000. Institutional investors and hedge funds own 77.63% of the company’s stock.
Wall Street Analysts Forecast Growth
CL has been the subject of several research analyst reports. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Thursday, December 15th. Credit Suisse Group cut their price target on Colgate-Palmolive from $88.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. UBS Group decreased their target price on Colgate-Palmolive from $90.00 to $80.00 in a research note on Thursday, October 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Colgate-Palmolive from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 6th. Finally, Wolfe Research started coverage on shares of Colgate-Palmolive in a research report on Monday, November 21st. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.58.
Colgate-Palmolive Stock Up 0.1 %
Colgate-Palmolive (NYSE:CL – Get Rating) last released its earnings results on Friday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.47 billion. Colgate-Palmolive had a return on equity of 304.29% and a net margin of 10.87%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 2.97 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 23rd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, January 20th. Colgate-Palmolive’s dividend payout ratio is currently 81.74%.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
- Get a free copy of the StockNews.com research report on Colgate-Palmolive (CL)
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