Douglass Winthrop Advisors LLC reduced its position in Colgate-Palmolive (NYSE:CL) by 98.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,693 shares of the company’s stock after selling 543,709 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Colgate-Palmolive were worth $733,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Colgate-Palmolive by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock worth $1,363,050,000 after acquiring an additional 223,814 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Colgate-Palmolive by 2.1% in the 3rd quarter. LPL Financial LLC now owns 284,400 shares of the company’s stock worth $19,041,000 after buying an additional 5,886 shares during the last quarter. Bell Rock Capital LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth about $233,000. Envestnet Asset Management Inc. boosted its holdings in shares of Colgate-Palmolive by 11.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 309,384 shares of the company’s stock worth $20,713,000 after buying an additional 31,965 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Colgate-Palmolive by 15.3% in the 3rd quarter. Pacer Advisors Inc. now owns 46,771 shares of the company’s stock worth $3,131,000 after buying an additional 6,194 shares during the last quarter. 76.27% of the stock is owned by institutional investors.
CL has been the topic of a number of research analyst reports. Goldman Sachs Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. UBS Group boosted their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Jefferies Financial Group restated a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 1st. Wells Fargo & Co restated a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, January 31st. Finally, Macquarie set a $57.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $65.73.
In other news, Director John T. Cahill sold 5,780 shares of the stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total transaction of $372,578.80. Following the completion of the sale, the director now owns 27,820 shares of the company’s stock, valued at $1,793,277.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Daniels sold 3,498 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $232,232.22. Following the sale, the insider now directly owns 38,824 shares of the company’s stock, valued at approximately $2,577,525.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,450 shares of company stock valued at $5,682,621. 1.14% of the stock is owned by insiders.
Shares of CL stock traded down $0.20 during trading on Wednesday, hitting $68.84. The company had a trading volume of 38,458 shares, compared to its average volume of 3,024,187. The stock has a market cap of $59.36 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 4.51 and a beta of 0.79. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $72.61.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.78 billion. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. Colgate-Palmolive’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $1.72 annualized dividend and a yield of 2.50%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio is currently 56.57%.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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