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.
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.
COPYRIGHT VIOLATION WARNING: “Crossmark Global Holdings Inc. Sells 6,620 Shares of Colgate-Palmolive (CL)” was originally reported by American Banking and Market News and is owned by of American Banking and Market News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/11/20/crossmark-global-holdings-inc-sells-6620-shares-of-colgate-palmolive-cl.html.
About Colgate-Palmolive
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.
Featured Article: Stop Order
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
