Veritas Investment Management LLP reduced its stake in Colgate-Palmolive (NYSE:CL) by 66.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000 shares of the company’s stock after selling 2,000 shares during the period. Veritas Investment Management LLP’s holdings in Colgate-Palmolive were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Parsec Financial Management Inc. grew its stake in shares of Colgate-Palmolive by 0.5% in the second quarter. Parsec Financial Management Inc. now owns 30,081 shares of the company’s stock worth $2,156,000 after purchasing an additional 146 shares during the last quarter. Heritage Way Advisors LLC grew its stake in shares of Colgate-Palmolive by 0.4% in the second quarter. Heritage Way Advisors LLC now owns 33,769 shares of the company’s stock worth $2,420,000 after purchasing an additional 146 shares during the last quarter. Tiemann Investment Advisors LLC boosted its position in Colgate-Palmolive by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 6,455 shares of the company’s stock valued at $442,000 after acquiring an additional 150 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in Colgate-Palmolive by 2.7% during the second quarter. Moloney Securities Asset Management LLC now owns 6,038 shares of the company’s stock valued at $433,000 after acquiring an additional 157 shares during the last quarter. Finally, Lynch & Associates IN boosted its position in Colgate-Palmolive by 0.6% during the first quarter. Lynch & Associates IN now owns 28,930 shares of the company’s stock valued at $1,983,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 75.83% of the company’s stock.
A number of brokerages have commented on CL. Piper Jaffray Companies began coverage on shares of Colgate-Palmolive in a research report on Tuesday, August 13th. They set an “overweight” rating on the stock. Jefferies Financial Group upped their price target on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and upped their price target for the company from $62.00 to $70.00 in a research report on Monday, April 29th. Wells Fargo & Co upped their price target on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Bank of America set a $80.00 price target on shares of 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 issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $73.13.
In other news, insider Ian M. Cook sold 175,616 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.65, for a total transaction of $12,758,502.40. Following the completion of the sale, the insider now owns 1,125,842 shares in the company, valued at approximately $81,792,421.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Prabha Parameswaran sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $69.35, for a total transaction of $346,750.00. Following the sale, the insider now owns 20,893 shares of the company’s stock, valued at approximately $1,448,929.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,285 shares of company stock valued at $40,530,290. Company insiders own 1.14% of the company’s stock.
Shares of CL traded up $0.67 on Monday, reaching $72.95. The company’s stock had a trading volume of 77,453 shares, compared to its average volume of 3,846,919. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41. The stock has a market capitalization of $62.36 billion, a PE ratio of 24.53, a PEG ratio of 4.59 and a beta of 0.76. The firm has a fifty day moving average of $72.54 and a 200-day moving average of $69.91.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, equities analysts anticipate that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were paid a $0.43 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.36%. Colgate-Palmolive’s dividend payout ratio (DPR) is 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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