Banco de Sabadell S.A bought a new stake in shares of Colgate-Palmolive (NYSE:CL) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,225 shares of the company’s stock, valued at approximately $1,117,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Bridgeworth LLC bought a new stake in Colgate-Palmolive during the 2nd quarter worth about $120,000. AE Wealth Management LLC grew its holdings in Colgate-Palmolive by 8.6% during the 2nd quarter. AE Wealth Management LLC now owns 18,535 shares of the company’s stock worth $1,201,000 after acquiring an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Colgate-Palmolive by 823.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after acquiring an additional 9,877 shares during the last quarter. Paloma Partners Management Co grew its holdings in Colgate-Palmolive by 87.0% during the 2nd quarter. Paloma Partners Management Co now owns 51,721 shares of the company’s stock worth $3,352,000 after acquiring an additional 24,068 shares during the last quarter. Finally, Impax Asset Management LLC grew its holdings in Colgate-Palmolive by 1,872.2% during the 2nd quarter. Impax Asset Management LLC now owns 176,871 shares of the company’s stock worth $11,463,000 after acquiring an additional 167,903 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.
A number of equities research analysts have commented on the stock. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Citigroup decreased their price objective on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, July 30th. Macquarie lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $74.00 to $65.00 in a report on Monday, July 30th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $72.14.
Colgate-Palmolive stock opened at $68.16 on Friday. The company has a debt-to-equity ratio of -34.49, a quick ratio of 0.74 and a current ratio of 1.06. Colgate-Palmolive has a 1 year low of $61.28 and a 1 year high of $77.91. The stock has a market cap of $58.29 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.72.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. analysts forecast that Colgate-Palmolive will post 3.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.46%. Colgate-Palmolive’s payout ratio is presently 58.54%.
Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Monday, June 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Henning I. Jakobsen sold 1,015 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $68,055.75. Following the sale, the chief financial officer now directly owns 36,193 shares in the company, valued at approximately $2,426,740.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip G. Shotts sold 462 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $30,977.10. Following the completion of the sale, the vice president now owns 41,250 shares in the company, valued at $2,765,812.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,279 shares of company stock worth $27,384,156. Corporate insiders own 1.02% of the company’s stock.
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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