Tradition Capital Management LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,682 shares of the company’s stock after selling 284 shares during the quarter. Colgate-Palmolive accounts for 1.1% of Tradition Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Tradition Capital Management LLC’s holdings in Colgate-Palmolive were worth $3,671,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CL. Beacon Pointe Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $235,000. BerganKDV Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $47,000. Janney Montgomery Scott LLC raised its holdings in shares of Colgate-Palmolive by 2.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 192,017 shares of the company’s stock worth $11,429,000 after acquiring an additional 4,990 shares during the last quarter. Sadoff Investment Management LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $226,000. Finally, Essex Savings Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $1,042,000. 75.21% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CL. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Macquarie set a $57.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, January 29th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a research report on Friday, February 1st. Finally, Morgan Stanley set a $62.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.00.
Shares of NYSE:CL traded down $0.26 during midday trading on Monday, reaching $65.43. The company’s stock had a trading volume of 1,173,706 shares, compared to its average volume of 4,418,505. The company has a market cap of $56.97 billion, a P/E ratio of 22.03, a P/E/G ratio of 4.24 and a beta of 0.78. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $72.61.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Wednesday, January 23rd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.57%.
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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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