Wealth Enhancement Advisory Services LLC bought a new position in shares of Colgate-Palmolive (NYSE:CL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,617 shares of the company’s stock, valued at approximately $1,331,000.
A number of other institutional investors also recently bought and sold shares of the business. Meridian Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $29,000. Lipe & Dalton purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $29,000. Princeton Global Asset Management LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $43,000. Manchester Financial Inc. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $46,000. Finally, First Bank & Trust purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $55,000. Institutional investors own 75.64% of the company’s stock.
Several analysts have recently commented on CL shares. ValuEngine lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a report on Friday, July 12th. UBS Group increased their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 29th. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. upgraded Colgate-Palmolive from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $62.00 to $70.00 in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $73.13.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the firm earned $0.77 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In other Colgate-Palmolive news, Chairman Ian M. Cook sold 113,632 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $71.14, for a total transaction of $8,083,780.48. Following the sale, the chairman now directly owns 1,534,111 shares of the company’s stock, valued at approximately $109,136,656.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $73.45, for a total value of $2,486,576.30. Following the sale, the chief financial officer now directly owns 73,693 shares in the company, valued at $5,412,750.85. The disclosure for this sale can be found here. Insiders have sold a total of 544,785 shares of company stock worth $39,141,695 over the last ninety days. 1.14% of the stock is owned by insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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