BLB&B Advisors LLC increased its position in shares of Colgate-Palmolive (NYSE:CL) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,928 shares of the company’s stock after acquiring an additional 2,238 shares during the quarter. BLB&B Advisors LLC’s holdings in Colgate-Palmolive were worth $1,133,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CL. Fundsmith Equity Fund L.P. bought a new position in Colgate-Palmolive in the second quarter valued at approximately $232,451,000. Massachusetts Financial Services Co. MA lifted its stake in Colgate-Palmolive by 11.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock valued at $2,110,235,000 after buying an additional 3,397,667 shares in the last quarter. Genesis Asset Managers LLP bought a new position in Colgate-Palmolive in the third quarter valued at approximately $184,557,000. Charles Schwab Investment Advisory Inc. bought a new position in Colgate-Palmolive in the second quarter valued at approximately $173,852,000. Finally, Bank of New York Mellon Corp lifted its stake in Colgate-Palmolive by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock valued at $1,304,974,000 after buying an additional 1,596,825 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of CL stock opened at $62.54 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. The firm has a market capitalization of $58.10 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Analysts anticipate that Colgate-Palmolive will post 3.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.
Colgate-Palmolive announced that its Board of Directors has approved a share buyback program on Monday, June 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have weighed in on CL shares. Argus reaffirmed a “buy” rating and issued a $75.00 price target (up previously from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. UBS Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $75.00 in a research note on Wednesday, July 18th. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 21st. Barclays set a $64.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $64.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 27th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $71.21.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of the business’s stock in a transaction 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 owns 36,193 shares of the company’s stock, valued at $2,426,740.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Philip G. Shotts sold 462 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was 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 directly owns 41,250 shares in the company, valued at approximately $2,765,812.50. The disclosure for this sale can be found here. In the last three months, insiders sold 415,279 shares of company stock worth $27,384,156. 1.02% of the stock is currently owned by insiders.
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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