AE Wealth Management LLC raised its stake in Colgate-Palmolive Company (NYSE:CL) by 89.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,599 shares of the company’s stock after buying an additional 5,476 shares during the period. AE Wealth Management LLC’s holdings in Colgate-Palmolive were worth $849,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock valued at $1,377,537,000 after buying an additional 169,798 shares during the period. First Eagle Investment Management LLC boosted its stake in Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock valued at $350,015,000 after buying an additional 122,983 shares in the last quarter. Swiss National Bank boosted its stake in Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Colgate-Palmolive by 11.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,532,717 shares of the company’s stock valued at $185,370,000 after buying an additional 253,665 shares in the last quarter. Finally, Thomaspartners Inc. boosted its stake in Colgate-Palmolive by 10.8% in the first quarter. Thomaspartners Inc. now owns 2,231,315 shares of the company’s stock valued at $163,310,000 after buying an additional 217,087 shares in the last quarter. 73.69% of the stock is owned by institutional investors.
Shares of Colgate-Palmolive Company (CL) opened at 71.02 on Friday. The stock’s 50 day moving average is $72.30 and its 200-day moving average is $72.91. The company has a market cap of $62.56 billion, a price-to-earnings ratio of 26.39 and a beta of 0.80. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, July 14th. Colgate-Palmolive’s payout ratio is presently 59.48%.
Several research firms have issued reports on CL. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 target price (up from $77.00) on shares of Colgate-Palmolive in a research note on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, BidaskClub cut shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $75.82.
In other news, SVP John J. Huston sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the sale, the senior vice president now directly owns 88,598 shares in the company, valued at approximately $6,322,353.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the completion of the sale, the insider now owns 53,022 shares in the company, valued at $4,012,174.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,802 shares of company stock worth $15,983,976. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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