Chemung Canal Trust Co. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 29.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,447 shares of the company’s stock after buying an additional 6,166 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $2,035,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new position in shares of Colgate-Palmolive during the first quarter worth $102,000. Proficio Capital Partners LLC raised its position in shares of Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after buying an additional 207 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Colgate-Palmolive during the first quarter worth $121,000. AlphaMark Advisors LLC raised its position in shares of Colgate-Palmolive by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock worth $122,000 after buying an additional 1,370 shares during the period. Finally, Security Asset Management purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $131,000. Hedge funds and other institutional investors own 73.69% of the company’s stock.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 71.02 on Friday. The firm has a market cap of $62.56 billion, a P/E ratio of 26.39 and a beta of 0.80. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27. The company’s 50 day moving average price is $72.30 and its 200 day moving average price is $72.91.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were given a $0.40 dividend. The ex-dividend date was Friday, July 14th. This represents a $1.60 annualized dividend and a yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
A number of equities analysts have recently weighed in on CL shares. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research note on Monday, April 24th. Jefferies Group LLC lowered their target price on Colgate-Palmolive from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Monday, May 1st. UBS AG reissued a “neutral” rating and set a $78.00 price target (down previously from $79.00) on shares of Colgate-Palmolive in a research report on Tuesday, May 2nd. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Vetr downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target on the stock. in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the completion of the sale, the insider now directly owns 53,022 shares in the company, valued at $3,839,323.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Cahill sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.47, for a total transaction of $579,760.00. Following the sale, the director now owns 31,786 shares of the company’s stock, valued at $2,303,531.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,802 shares of company stock valued at $15,983,976. Company insiders own 1.02% of the company’s stock.
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.
Receive News & Ratings for Colgate-Palmolive Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Company and related companies with MarketBeat.com's FREE daily email newsletter.