Trust Co. of Virginia VA raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,058 shares of the company’s stock after purchasing an additional 303 shares during the quarter. Trust Co. of Virginia VA’s holdings in Colgate-Palmolive were worth $1,724,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new stake in Colgate-Palmolive during the first quarter valued at about $29,000. Lipe & Dalton bought a new stake in shares of Colgate-Palmolive during the second quarter valued at about $29,000. Princeton Global Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the first quarter valued at about $43,000. Manchester Financial Inc. bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $46,000. Finally, First Bank & Trust bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $55,000. 75.83% of the stock is currently owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, SVP John J. Huston sold 473 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $72.93, for a total value of $34,495.89. Following the completion of the sale, the senior vice president now directly owns 59,668 shares in the company, valued at approximately $4,351,587.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ian M. Cook sold 19,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $74.19, for a total value of $1,446,705.00. Following the completion of the sale, the insider now owns 1,127,542 shares of the company’s stock, valued at $83,652,340.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 564,285 shares of company stock worth $40,530,290. Corporate insiders own 1.14% of the company’s stock.
A number of brokerages have commented on CL. Argus increased their price target on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Morgan Stanley raised their price objective on Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research report on Tuesday, August 13th. They set an “overweight” rating for the company. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research report on Friday, June 7th. Finally, Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $73.13.
Shares of NYSE CL traded up $0.49 during trading hours on Monday, hitting $72.77. 60,668 shares of the company traded hands, compared to its average volume of 3,846,919. The stock has a market capitalization of $62.36 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 4.59 and a beta of 0.76. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25. The company’s 50 day moving average price is $72.54 and its 200 day moving average price is $69.91. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $76.41.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Equities analysts anticipate that Colgate-Palmolive will post 2.84 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
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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