Miracle Mile Advisors LLC acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 19,998 shares of the company’s stock, valued at approximately $1,371,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Trustcore Financial Services LLC acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $88,000. Farmers National Bank acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $1,543,000. Global Retirement Partners LLC boosted its stake in Colgate-Palmolive by 11.3% in the 1st quarter. Global Retirement Partners LLC now owns 2,172 shares of the company’s stock worth $149,000 after buying an additional 221 shares during the last quarter. Independent Advisor Alliance boosted its stake in Colgate-Palmolive by 8.8% in the 1st quarter. Independent Advisor Alliance now owns 38,142 shares of the company’s stock worth $2,614,000 after buying an additional 3,086 shares during the last quarter. Finally, Cordatus Wealth Management LLC boosted its stake in Colgate-Palmolive by 19.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 9,400 shares of the company’s stock worth $644,000 after buying an additional 1,550 shares during the last quarter. 75.95% of the stock is currently owned by institutional investors and hedge funds.
CL has been the topic of a number of research analyst reports. UBS Group raised their price target on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, May 1st. ValuEngine raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Morgan Stanley raised their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, Macquarie set a $57.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $69.69.
CL stock opened at $71.70 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.74 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 $73.10. The company has a market cap of $61.79 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 4.72 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the business earned $0.74 EPS. Colgate-Palmolive’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a $0.43 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, April 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.40%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
In other news, CEO Ian M. Cook sold 16,000 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $1,067,520.00. Following the completion of the transaction, the chief executive officer now owns 1,146,793 shares in the company, valued at approximately $76,514,028.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ian M. Cook sold 17,750 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $67.37, for a total value of $1,195,817.50. Following the completion of the transaction, the chief executive officer now owns 1,130,793 shares of the company’s stock, valued at approximately $76,181,524.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,211 shares of company stock valued at $23,724,495. Insiders own 1.14% of the company’s stock.
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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