Covington Capital Management lowered its holdings in Colgate-Palmolive (NYSE:CL) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,544 shares of the company’s stock after selling 1,099 shares during the period. Covington Capital Management’s holdings in Colgate-Palmolive were worth $11,208,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Colgate-Palmolive in the third quarter valued at $1,814,000. The Manufacturers Life Insurance Company grew its position in Colgate-Palmolive by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock valued at $83,914,000 after acquiring an additional 105,878 shares during the period. Pensionfund DSM Netherlands purchased a new stake in Colgate-Palmolive during the third quarter valued at about $4,225,000. Pictet & Cie Europe SA grew its position in Colgate-Palmolive by 5.5% during the third quarter. Pictet & Cie Europe SA now owns 123,000 shares of the company’s stock valued at $8,961,000 after acquiring an additional 6,400 shares during the period. Finally, Roosevelt Investment Group Inc. purchased a new stake in Colgate-Palmolive during the second quarter valued at about $1,044,000. 73.87% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive (NYSE CL) traded down $0.14 on Wednesday, hitting $70.73. The company’s stock had a trading volume of 224,818 shares, compared to its average volume of 3,965,597. The firm has a market capitalization of $62,218.23, a PE ratio of 31.08, a PEG ratio of 2.63 and a beta of 0.79. Colgate-Palmolive has a 12 month low of $68.19 and a 12 month high of $77.91. The company has a debt-to-equity ratio of 27.02, a quick ratio of 1.00 and a current ratio of 1.36.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.40. Colgate-Palmolive’s payout ratio is currently 70.18%.
In related news, CTO Patricia Verduin sold 1,572 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.17, for a total value of $110,307.24. Following the transaction, the chief technology officer now owns 50,675 shares in the company, valued at $3,555,864.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dennis J. Hickey sold 5,651 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.18, for a total value of $396,587.18. Following the completion of the transaction, the chief financial officer now owns 413,221 shares in the company, valued at approximately $28,999,849.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,707 shares of company stock worth $32,443,427. 1.02% of the stock is currently owned by insiders.
A number of research firms have issued reports on CL. Citigroup boosted their price target on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research report on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research report on Friday, January 26th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Tuesday, January 16th. Finally, Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price target for the company in a research report on Tuesday, December 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $77.91.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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