West Coast Financial LLC raised its stake in Colgate-Palmolive Company (NYSE:CL) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 37,677 shares of the company’s stock after buying an additional 1,230 shares during the period. West Coast Financial LLC’s holdings in Colgate-Palmolive were worth $2,793,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC raised its position in Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock valued at $1,238,000 after buying an additional 11,605 shares during the last quarter. Meritage Portfolio Management raised its position in Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock valued at $7,017,000 after buying an additional 255 shares during the last quarter. Eastern Bank raised its position in Colgate-Palmolive by 0.8% in the first quarter. Eastern Bank now owns 10,939 shares of the company’s stock valued at $801,000 after buying an additional 89 shares during the last quarter. ProShare Advisors LLC raised its position in Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock valued at $64,382,000 after buying an additional 79,323 shares during the last quarter. Finally, Lynch & Associates IN raised its position in Colgate-Palmolive by 4.1% in the first quarter. Lynch & Associates IN now owns 29,542 shares of the company’s stock valued at $2,162,000 after buying an additional 1,175 shares during the last quarter. 73.69% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Company (CL) traded down 0.39% during mid-day trading on Friday, hitting $71.02. 3,317,565 shares of the stock were exchanged. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a market capitalization of $62.56 billion, a PE ratio of 26.39 and a beta of 0.80. The stock has a 50 day moving average price of $72.30 and a 200 day moving average price of $72.91.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business earned $0.70 EPS. Colgate-Palmolive’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors 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 dividend payout ratio is currently 59.48%.
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Several research analysts recently weighed in on CL shares. Bank of America Corporation lifted their price objective on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Vetr lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price objective on the stock. in a research note on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $76.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, May 17th. Two equities 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’s stock. The company 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 firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $72.41, for a total transaction of $277,547.53. Following the transaction, the insider now directly owns 53,022 shares in the company, valued at approximately $3,839,323.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John J. Huston sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the transaction, the senior vice president now owns 88,598 shares in the company, valued at $6,322,353.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,802 shares of company stock worth $15,983,976. 1.02% of the stock is owned by company insiders.
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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