Parsons Capital Management Inc. RI lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 8.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,776 shares of the company’s stock after selling 1,470 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Colgate-Palmolive were worth $1,203,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Virtue Capital Management LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $104,000. Princeton Capital Management LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $117,000. Calton & Associates Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $126,000. Cerebellum GP LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $129,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $140,000. Institutional investors and hedge funds own 74.26% of the company’s stock.
In other Colgate-Palmolive news, CTO Patricia Verduin sold 1,572 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.17, for a total value of $110,307.24. Following the sale, the chief technology officer now directly owns 50,675 shares of the company’s stock, valued at $3,555,864.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John T. Cahill sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $69.96, for a total transaction of $489,720.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,981 shares of company stock worth $7,946,314. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. analysts predict that Colgate-Palmolive will post 3.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.68%. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.
A number of brokerages recently issued reports on CL. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Tuesday, January 16th. BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a research note on Friday, January 26th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, April 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.74.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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