Janney Montgomery Scott LLC boosted its holdings in Colgate-Palmolive (NYSE:CL) by 1.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 187,027 shares of the company’s stock after buying an additional 2,563 shares during the period. Janney Montgomery Scott LLC’s holdings in Colgate-Palmolive were worth $12,522,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CL. Fundsmith Equity Fund L.P. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth $232,451,000. Massachusetts Financial Services Co. MA increased its stake in Colgate-Palmolive by 11.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after buying an additional 3,397,667 shares in the last quarter. Genesis Asset Managers LLP purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $184,557,000. Charles Schwab Investment Advisory Inc. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth $173,852,000. Finally, Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after buying an additional 1,596,825 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.
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 stock has a market cap of $53.19 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 3.01 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 64.85.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.
In related news, VP Philip G. Shotts sold 17,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.44, for a total value of $1,112,480.00. Following the completion of the transaction, the vice president now owns 49,949 shares of the company’s stock, valued at approximately $3,268,662.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the transaction, the insider now directly owns 202,414 shares of the company’s stock, valued at approximately $13,302,648.08. The disclosure for this sale can be found here. Insiders have sold a total of 149,811 shares of company stock valued at $9,835,756 in the last three months. Insiders own 1.02% of the company’s stock.
CL has been the subject of a number of analyst reports. Wells Fargo & Co lowered Colgate-Palmolive to a “hold” rating in a research note on Tuesday, July 17th. UBS Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating and increased their price target for the stock from $70.00 to $75.00 in a research note on Wednesday, July 18th. Stifel Nicolaus cut their price target on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, July 23rd. Macquarie downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $65.00 in a report on Monday, July 30th. Finally, Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, July 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $68.06.
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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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