Cambridge Investment Research Advisors Inc. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,526 shares of the company’s stock after purchasing an additional 1,683 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Colgate-Palmolive were worth $5,860,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Palisade Asset Management LLC increased its position in Colgate-Palmolive by 0.6% during the 3rd quarter. Palisade Asset Management LLC now owns 141,610 shares of the company’s stock valued at $9,481,000 after buying an additional 795 shares in the last quarter. DF Dent & Co. Inc. increased its position in Colgate-Palmolive by 7.1% during the 2nd quarter. DF Dent & Co. Inc. now owns 12,125 shares of the company’s stock valued at $786,000 after buying an additional 800 shares in the last quarter. Hugh Johnson Advisors LLC increased its position in Colgate-Palmolive by 8.0% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock valued at $704,000 after buying an additional 801 shares in the last quarter. West Oak Capital LLC increased its position in Colgate-Palmolive by 3.2% during the 3rd quarter. West Oak Capital LLC now owns 27,049 shares of the company’s stock valued at $1,811,000 after buying an additional 830 shares in the last quarter. Finally, Heritage Way Advisors LLC increased its position in Colgate-Palmolive by 2.8% during the 2nd quarter. Heritage Way Advisors LLC now owns 31,733 shares of the company’s stock valued at $2,057,000 after buying an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.
CL has been the topic of a number of research reports. Argus reissued a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Atlantic Securities initiated coverage on Colgate-Palmolive in a report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective on the stock. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.06.
Shares of CL opened at $63.80 on Friday. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $77.91. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 64.85. The stock has a market capitalization of $53.19 billion, a PE ratio of 22.23, a P/E/G ratio of 3.01 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%. Colgate-Palmolive’s payout ratio is 58.54%.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was 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 in the company, valued at $2,426,740.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total value of $7,886,400.00. Following the completion of the sale, the insider now owns 202,414 shares in the company, valued at approximately $13,302,648.08. The disclosure for this sale can be found here. Insiders sold 149,811 shares of company stock worth $9,835,756 in the last 90 days. Company 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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