B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its stake in Colgate-Palmolive (NYSE:CL) by 39.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the company’s stock after selling 9,000 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Colgate-Palmolive were worth $907,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hugh Johnson Advisors LLC lifted its position in shares of Colgate-Palmolive by 8.0% during the second quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock worth $704,000 after purchasing an additional 801 shares in the last quarter. Amalgamated Bank lifted its position in shares of Colgate-Palmolive by 0.7% during the first quarter. Amalgamated Bank now owns 110,439 shares of the company’s stock worth $7,916,000 after purchasing an additional 806 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in shares of Colgate-Palmolive by 24.5% during the first quarter. CHICAGO TRUST Co NA now owns 4,114 shares of the company’s stock worth $295,000 after purchasing an additional 810 shares in the last quarter. Buckingham Capital Management Inc. lifted its position in shares of Colgate-Palmolive by 2.5% during the first quarter. Buckingham Capital Management Inc. now owns 34,396 shares of the company’s stock worth $2,466,000 after purchasing an additional 849 shares in the last quarter. Finally, Heritage Way Advisors LLC lifted its position in shares of Colgate-Palmolive by 2.8% during the second quarter. Heritage Way Advisors LLC now owns 31,733 shares of the company’s stock worth $2,057,000 after purchasing an additional 875 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors.
Colgate-Palmolive stock traded down $0.21 during mid-day trading on Friday, hitting $64.71. The company had a trading volume of 2,972,159 shares, compared to its average volume of 3,930,239. The firm has a market capitalization of $58.10 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.99 and a beta of 0.72. Colgate-Palmolive has a 1 year low of $61.28 and a 1 year high of $77.91. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of -34.49.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 27th. The company reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, research analysts expect that Colgate-Palmolive will post 3.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.60%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
Colgate-Palmolive declared that its Board of Directors has initiated a share repurchase program on Monday, June 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of analysts recently weighed in on CL shares. Argus restated a “buy” rating and set a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. UBS Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Wednesday, July 18th. Macquarie lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $74.00 to $65.00 in a research note on Monday, July 30th. Finally, ValuEngine upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.25.
In other news, insider Mukul Deoras sold 11,334 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $65.10, for a total transaction of $737,843.40. Following the transaction, the insider now directly owns 32,625 shares in the company, valued at $2,123,887.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $65.40, for a total transaction of $1,275,300.00. Following the transaction, the insider now owns 78,065 shares in the company, valued at $5,105,451. The disclosure for this sale can be found here. Insiders sold 415,279 shares of company stock worth $27,384,156 over the last quarter. 1.02% of the stock is currently owned by insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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