Martingale Asset Management L P lowered its position in Colgate-Palmolive Company (NYSE:CL) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,809 shares of the company’s stock after selling 5,805 shares during the period. Martingale Asset Management L P’s holdings in Colgate-Palmolive were worth $5,472,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CL. American Beacon Advisors Inc. purchased a new stake in Colgate-Palmolive in the 1st quarter worth $102,000. Proficio Capital Partners LLC lifted its stake in Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in Colgate-Palmolive in the 2nd quarter worth $109,000. Hanson & Doremus Investment Management lifted its stake in Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after purchasing an additional 70 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $121,000. 73.63% of the stock is owned by institutional investors.
In other news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the transaction, the insider now directly owns 53,173 shares in the company, valued at $3,799,210.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the transaction, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
Colgate-Palmolive Company (NYSE CL) opened at $73.21 on Friday. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. The company has a market cap of $64,286.07, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.35 and a beta of 0.80. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. sell-side analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
Several brokerages have recently issued reports on CL. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group LLC restated a “hold” rating and set a $79.00 target price (up from $77.00) on shares of Colgate-Palmolive in a research report on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $76.67.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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