Crossmark Global Holdings Inc. reduced its holdings in Colgate-Palmolive (NYSE:CL) by 7.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,596 shares of the company’s stock after selling 6,620 shares during the period. Crossmark Global Holdings Inc.’s holdings in Colgate-Palmolive were worth $5,865,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. CSat Investment Advisory L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $111,000. Bridgeworth LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $120,000. Price Capital Management Inc. bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $121,000. Fort L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $123,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $123,000. 74.71% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $68,055.75. Following the completion of the sale, the chief financial officer now 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 the SEC website. Also, VP Philip G. Shotts sold 462 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,765,812.50. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
Shares of CL opened at $62.77 on Tuesday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The stock has a market cap of $54.85 billion, a P/E ratio of 21.87, a P/E/G ratio of 3.11 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 (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business posted $0.73 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. Colgate-Palmolive’s payout ratio is 58.54%.
CL has been the subject of several analyst reports. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Wells Fargo & Co lowered their target price on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a report on Wednesday, October 17th. JPMorgan Chase & Co. lowered shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $61.00 to $54.00 in a report on Monday, October 29th. Morgan Stanley lowered their target price on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Finally, SunTrust Banks lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $80.00 to $65.00 in a report on Friday, October 26th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average 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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