Carroll Financial Associates Inc. decreased its stake in Colgate-Palmolive (NYSE:CL) by 22.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,992 shares of the company’s stock after selling 1,188 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Colgate-Palmolive were worth $267,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Fundsmith Equity Fund L.P. bought a new position in Colgate-Palmolive in the 2nd quarter valued at $232,451,000. Massachusetts Financial Services Co. MA raised its position in 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 valued at $2,110,235,000 after purchasing an additional 3,397,667 shares during the last quarter. Genesis Asset Managers LLP bought a new position in Colgate-Palmolive in the 3rd quarter valued at $184,557,000. Charles Schwab Investment Advisory Inc. bought a new position in Colgate-Palmolive in the 2nd quarter valued at $173,852,000. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $1,304,974,000 after purchasing an additional 1,596,825 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday. SunTrust Banks downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $80.00 to $65.00 in a research report on Friday, October 26th. Argus cut their price objective on Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley cut their price objective on Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus cut their price objective on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, July 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.06.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. 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 announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.82%. Colgate-Palmolive’s payout ratio is currently 58.54%.
In other news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the sale, the insider now owns 202,414 shares in the company, valued at $13,302,648.08. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the sale, the chief financial officer now owns 36,193 shares of the company’s stock, valued at approximately $2,426,740.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,585 shares of company stock valued at $11,132,140. 1.02% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company Profile
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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