Dubuque Bank & Trust Co. grew its stake in Colgate-Palmolive (NYSE:CL) by 22.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,470 shares of the company’s stock after acquiring an additional 991 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $366,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. lifted its position in shares of Colgate-Palmolive by 203.2% in the second quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock valued at $2,241,000 after acquiring an additional 23,169 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Colgate-Palmolive by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,233,699 shares of the company’s stock valued at $209,577,000 after acquiring an additional 70,318 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Colgate-Palmolive by 823.1% in the second quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock valued at $718,000 after purchasing an additional 9,877 shares during the last quarter. Centaurus Financial Inc. increased its stake in Colgate-Palmolive by 147.5% in the second quarter. Centaurus Financial Inc. now owns 8,262 shares of the company’s stock valued at $535,000 after purchasing an additional 4,924 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. acquired a new position in Colgate-Palmolive in the second quarter valued at $232,451,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
Several equities analysts recently commented on the company. Morgan Stanley set a $60.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a research note on Tuesday. Argus set a $70.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Co dropped their target price on Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Citigroup dropped their target price on Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $68.06.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. Research analysts predict that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.79%. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.
In other Colgate-Palmolive news, insider Mukul Deoras sold 11,334 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $65.10, for a total transaction of $737,843.40. Following the completion of the sale, the insider now directly owns 32,625 shares in the company, valued at $2,123,887.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total value of $7,886,400.00. Following the sale, the insider now owns 202,414 shares of the company’s stock, valued at $13,302,648.08. The disclosure for this sale can be found here. Insiders have sold 304,654 shares of company stock valued at $20,090,369 over the last 90 days. 1.02% of the stock is currently owned by insiders.
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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