Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 254,055 shares of the company’s stock after acquiring an additional 61,780 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Colgate-Palmolive were worth $17,009,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CL. CSat Investment Advisory L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $111,000. Bridgeworth LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $120,000. Price Capital Management Inc. bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $121,000. Fort L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $123,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $123,000. Institutional investors own 75.08% of the company’s stock.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the transaction, the chief financial officer now directly owns 36,193 shares in the company, valued at approximately $2,426,740.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Philip G. Shotts sold 17,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,112,480.00. Following the transaction, the vice president now owns 49,949 shares of the company’s stock, valued at $3,268,662.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,811 shares of company stock valued at $9,835,756. Company insiders own 1.02% of the company’s stock.
Shares of NYSE CL opened at $63.80 on Friday. The firm has a market capitalization of $53.19 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.01 and a beta of 0.75. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.11 and a quick ratio of 0.77. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. Sell-side analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current 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 paid a dividend of $0.42 per share. 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 dividend payout ratio is 58.54%.
A number of research firms recently commented on CL. Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Argus lowered their price objective on shares of Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Wells Fargo & Co lowered their price objective on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Finally, Citigroup reduced their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target 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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