Strategic Financial Services Inc lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,471 shares of the company’s stock after selling 1,695 shares during the period. Strategic Financial Services Inc’s holdings in Colgate-Palmolive were worth $3,178,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Massachusetts Financial Services Co. MA lifted its holdings in shares of Colgate-Palmolive by 11.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after acquiring an additional 3,397,667 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Colgate-Palmolive by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after acquiring an additional 1,596,825 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Colgate-Palmolive by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock worth $439,801,000 after acquiring an additional 405,430 shares during the last quarter. Fiera Capital Corp lifted its stake in Colgate-Palmolive by 4.6% in the second quarter. Fiera Capital Corp now owns 5,012,573 shares of the company’s stock worth $324,865,000 after purchasing an additional 219,925 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Colgate-Palmolive by 15.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,093,312 shares of the company’s stock worth $265,288,000 after purchasing an additional 543,500 shares during the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.
In related news, VP Justin Skala sold 90,069 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $66.36, for a total value of $5,976,978.84. Following the completion of the sale, the vice president now directly owns 65,061 shares in the company, valued at $4,317,447.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip G. Shotts sold 17,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,112,480.00. Following the completion of the sale, the vice president now owns 49,949 shares of the company’s stock, valued at approximately $3,268,662.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,779 shares of company stock valued at $26,108,856. 1.02% of the stock is currently owned by corporate insiders.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 2.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.
Several analysts have issued reports on the stock. Argus reissued a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Atlantic Securities initiated coverage on Colgate-Palmolive in a research note on Thursday, September 20th. They set a “neutral” rating and a $71.00 price target for the company. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Wells Fargo & Co reissued a “hold” rating and set a $64.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $70.79.
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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