Jarislowsky Fraser Ltd cut its holdings in Colgate-Palmolive (NYSE:CL) by 7.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,947,818 shares of the company’s stock after selling 153,244 shares during the period. Jarislowsky Fraser Ltd’s holdings in Colgate-Palmolive were worth $115,934,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Timber Creek Capital Management LLC increased its position in shares of Colgate-Palmolive by 247.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after purchasing an additional 336 shares in the last quarter. BerganKDV Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $47,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Colgate-Palmolive by 46.2% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 950 shares of the company’s stock worth $57,000 after purchasing an additional 300 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $94,000. Finally, Price Capital Management Inc. acquired a new stake in shares of Colgate-Palmolive during the third quarter worth about $121,000. Institutional investors own 75.21% of the company’s stock.
In other Colgate-Palmolive news, Director John T. Cahill sold 5,780 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total value of $372,578.80. Following the sale, the director now owns 27,820 shares of the company’s stock, valued at approximately $1,793,277.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by insiders.
A number of research firms have recently commented on CL. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Macquarie set a $57.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, January 29th. Wells Fargo & Co reissued a “hold” rating and set a $57.00 price target on shares of Colgate-Palmolive in a report on Thursday, January 31st. Jefferies Financial Group reissued a “hold” rating and set a $61.00 price target on shares of Colgate-Palmolive in a report on Friday, February 1st. Finally, Morgan Stanley set a $62.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $65.00.
NYSE CL opened at $65.69 on Monday. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $72.61. The stock has a market cap of $56.97 billion, a P/E ratio of 22.12, a P/E/G ratio of 4.24 and a beta of 0.78.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $0.75 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, analysts expect that Colgate-Palmolive will post 2.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Wednesday, January 23rd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is presently 56.57%.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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