Vision Capital Management Inc. increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 181.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 17,310 shares of the company’s stock after buying an additional 11,150 shares during the period. Vision Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,267,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake 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 worth $1,377,537,000 after buying an additional 169,798 shares during the period. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter worth $455,526,000. First Eagle Investment Management LLC raised 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 worth $350,015,000 after buying an additional 122,983 shares during the period. Swiss National Bank raised 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 worth $268,393,000 after buying an additional 666,400 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $189,728,000. Institutional investors own 73.69% of the company’s stock.
Colgate-Palmolive Company (NYSE:CL) traded down 0.39% during trading on Friday, reaching $71.02. The company had a trading volume of 3,317,565 shares. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The firm has a market capitalization of $62.56 billion, a price-to-earnings ratio of 26.39 and a beta of 0.80. The company’s 50-day moving average is $72.30 and its 200 day moving average is $72.91.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is 59.48%.
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A number of brokerages recently commented on CL. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and set a $79.00 price target (up from $77.00) on shares of Colgate-Palmolive in a report on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.82.
In other news, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the transaction, the insider now owns 53,022 shares in the company, valued at approximately $4,012,174.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.52, for a total transaction of $2,503,200.00. Following the transaction, the insider now owns 201,411 shares in the company, valued at approximately $14,404,914.72. The disclosure for this sale can be found here. Insiders sold a total of 221,802 shares of company stock valued at $15,983,976 in the last ninety days. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
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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