First Republic Investment Management Inc. trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,028 shares of the company’s stock after selling 14,632 shares during the quarter. First Republic Investment Management Inc.’s holdings in Colgate-Palmolive were worth $22,497,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedbush Securities Inc. lifted its holdings in shares of Colgate-Palmolive by 4.3% in the third quarter. Wedbush Securities Inc. now owns 25,538 shares of the company’s stock worth $1,710,000 after buying an additional 1,058 shares in the last quarter. Cpwm LLC lifted its holdings in shares of Colgate-Palmolive by 25.4% in the third quarter. Cpwm LLC now owns 15,869 shares of the company’s stock worth $1,062,000 after buying an additional 3,211 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Colgate-Palmolive in the third quarter worth $6,089,000. GAM Holding AG lifted its holdings in shares of Colgate-Palmolive by 4.8% in the third quarter. GAM Holding AG now owns 123,271 shares of the company’s stock worth $8,253,000 after buying an additional 5,596 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 53.5% in the third quarter. Ancora Advisors LLC now owns 17,416 shares of the company’s stock worth $1,166,000 after buying an additional 6,071 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
Colgate-Palmolive stock opened at $62.71 on Friday. The firm has a market cap of $54.84 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 3.11 and a beta of 0.76. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 64.85. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $77.91.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Colgate-Palmolive’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Colgate-Palmolive will post 2.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Friday, October 19th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
In other Colgate-Palmolive news, VP Philip G. Shotts sold 462 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $30,977.10. Following the transaction, the vice president now owns 41,250 shares in the company, valued at $2,765,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Henning I. Jakobsen sold 1,015 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares in the company, valued at approximately $2,426,740.65. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
A number of equities research analysts recently issued reports on CL shares. Wells Fargo & Co decreased their price target on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 17th. Argus decreased their price target on shares of Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. JPMorgan Chase & Co. downgraded shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $61.00 to $54.00 in a research note on Monday, October 29th. Finally, UBS Group set a $71.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.20.
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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