Modera Wealth Management LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 29.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,727 shares of the company’s stock after selling 1,950 shares during the period. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $339,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in Colgate-Palmolive by 9.8% in the 2nd quarter. Van ECK Associates Corp now owns 83,168 shares of the company’s stock worth $5,961,000 after buying an additional 7,415 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Colgate-Palmolive by 2.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 722,069 shares of the company’s stock worth $52,090,000 after purchasing an additional 15,315 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its holdings in shares of Colgate-Palmolive by 101.4% during the 2nd quarter. Peregrine Asset Advisers Inc. now owns 68,427 shares of the company’s stock worth $4,904,000 after purchasing an additional 34,450 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $1,231,000. Finally, Westhampton Capital LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $823,000. Institutional investors own 75.83% of the company’s stock.
CL has been the topic of several recent research reports. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a report on Friday, June 7th. Wells Fargo & Co boosted their target price on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Argus boosted their target price on Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. UBS Group boosted their target price on Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank boosted their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $73.87.
Shares of CL stock traded down $0.81 during trading on Friday, hitting $72.23. 2,972,789 shares of the stock traded hands, compared to its average volume of 3,558,221. The firm has a market capitalization of $62.67 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 4.70 and a beta of 0.76. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.13 and a quick ratio of 0.78. The firm’s fifty day moving average price is $72.56 and its 200-day moving average price is $70.11. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $76.41.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.72 EPS 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 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 business’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 earned $0.77 EPS. As a group, equities research analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The company also recently declared 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 2.38%. The ex-dividend date of this dividend was Wednesday, July 17th. Colgate-Palmolive’s payout ratio is presently 57.91%.
In other Colgate-Palmolive news, insider Prabha Parameswaran sold 5,000 shares of the business’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 value of $346,750.00. Following the sale, the insider now owns 20,893 shares of the company’s stock, valued at $1,448,929.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ian M. Cook sold 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total value of $1,363,440.00. Following the completion of the sale, the insider now directly owns 1,186,042 shares in the company, valued at approximately $82,928,056.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 564,285 shares of company stock worth $40,530,290. Corporate insiders own 1.14% of the company’s stock.
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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