Cadence Capital Management LLC reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 19.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,363 shares of the company’s stock after selling 6,009 shares during the period. Cadence Capital Management LLC’s holdings in Colgate-Palmolive were worth $1,880,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reynders McVeigh Capital Management LLC increased its stake in shares of Colgate-Palmolive by 1.3% in the second quarter. Reynders McVeigh Capital Management LLC now owns 10,487 shares of the company’s stock worth $768,000 after buying an additional 134 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Colgate-Palmolive by 0.3% in the second quarter. Stephens Inc. AR now owns 42,252 shares of the company’s stock worth $3,095,000 after buying an additional 134 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Colgate-Palmolive by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 4,128 shares of the company’s stock worth $302,000 after buying an additional 135 shares during the last quarter. Capital Insight Partners LLC increased its stake in shares of Colgate-Palmolive by 0.6% in the second quarter. Capital Insight Partners LLC now owns 21,635 shares of the company’s stock worth $1,585,000 after buying an additional 137 shares during the last quarter. Finally, Aries Wealth Management increased its stake in shares of Colgate-Palmolive by 0.9% in the third quarter. Aries Wealth Management now owns 16,126 shares of the company’s stock worth $1,244,000 after buying an additional 140 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on CL. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, July 31st. Royal Bank of Canada reiterated a “buy” rating and set a $88.00 target price on shares of Colgate-Palmolive in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colgate-Palmolive from $75.00 to $78.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $75.27.
In other news, CEO Noel R. Wallace sold 85,929 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $76.37, for a total value of $6,562,397.73. Following the transaction, the chief executive officer now owns 282,097 shares in the company, valued at approximately $21,543,747.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sally Massey sold 387 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $77.30, for a total value of $29,915.10. Following the completion of the transaction, the insider now owns 4,856 shares in the company, valued at approximately $375,368.80. The disclosure for this sale can be found here. Insiders have sold 256,994 shares of company stock valued at $19,678,851 over the last ninety days. Insiders own 0.78% of the company’s stock.
CL stock traded up $0.60 during mid-day trading on Friday, reaching $80.31. 2,963,577 shares of the stock traded hands, compared to its average volume of 4,302,619. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 9.40. Colgate-Palmolive has a 52-week low of $58.49 and a 52-week high of $80.99. The company has a market cap of $68.86 billion, a P/E ratio of 26.86, a P/E/G ratio of 4.63 and a beta of 0.59. The stock’s fifty day moving average is $77.55 and its 200-day moving average is $73.84.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Colgate-Palmolive had a net margin of 16.13% and a return on equity of 559.34%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, October 22nd. Colgate-Palmolive’s dividend payout ratio is presently 62.19%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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