TIAA CREF Investment Management LLC lowered its position in Colgate-Palmolive (NYSE:CL) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,589,149 shares of the company’s stock after selling 46,568 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.52% of Colgate-Palmolive worth $346,251,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its stake in Colgate-Palmolive by 125.5% in the third quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after acquiring an additional 803 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth approximately $104,000. Krilogy Financial LLC raised its holdings in Colgate-Palmolive by 23.0% during the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Colgate-Palmolive during the second quarter worth approximately $122,000. Finally, Bruderman Asset Management LLC acquired a new stake in Colgate-Palmolive during the second quarter worth approximately $126,000. Institutional investors own 73.87% of the company’s stock.
In related news, CTO Patricia Verduin sold 1,572 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.17, for a total value of $110,307.24. Following the transaction, the chief technology officer now directly owns 50,675 shares in the company, valued at approximately $3,555,864.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction on Friday, February 9th. The shares were sold at an average price of $69.44, for a total transaction of $972,160.00. Following the completion of the transaction, the senior vice president now owns 100,508 shares in the company, valued at $6,979,275.52. The disclosure for this sale can be found here. Insiders sold a total of 455,707 shares of company stock worth $32,443,427 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 26th. The company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Colgate-Palmolive had a net margin of 13.10% and a return on equity of 1,716.69%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. analysts predict that Colgate-Palmolive will post 3.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 19th. Colgate-Palmolive’s payout ratio is presently 70.18%.
A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a report on Friday, January 26th. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Finally, Deutsche Bank assumed coverage on shares of Colgate-Palmolive in a report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.91.
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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