Merit Financial Group LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,404 shares of the company’s stock, valued at approximately $332,000.
A number of other large investors have also recently made changes to their positions in CL. Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after acquiring an additional 1,621,392 shares during the last quarter. BlackRock Inc. increased its stake in shares of Colgate-Palmolive by 1.4% in the 4th quarter. BlackRock Inc. now owns 52,360,691 shares of the company’s stock valued at $3,950,614,000 after acquiring an additional 711,972 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares during the last quarter. Geode Capital Management LLC increased its stake in Colgate-Palmolive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 8,975,479 shares of the company’s stock worth $675,751,000 after purchasing an additional 188,455 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Colgate-Palmolive by 25.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after purchasing an additional 1,385,946 shares in the last quarter. 73.87% of the stock is owned by hedge funds and other institutional investors.
In other Colgate-Palmolive news, Vice Chairman Franck J. Moison sold 142,979 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $70.09, for a total transaction of $10,021,398.11. Following the completion of the sale, the insider now owns 224,027 shares of the company’s stock, valued at approximately $15,702,052.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Daniels sold 902 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the sale, the insider now directly owns 37,788 shares of the company’s stock, valued at approximately $2,865,086.16. The disclosure for this sale can be found here. In the last three months, insiders sold 455,707 shares of company stock valued at $32,443,427. 1.02% of the stock is currently owned by insiders.
A number of analysts recently issued reports on the company. Citigroup increased their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a research note on Friday, January 26th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Deutsche Bank assumed coverage on Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $77.91.
Colgate-Palmolive (CL) traded down $0.85 during trading hours on Wednesday, reaching $70.02. The company’s stock had a trading volume of 2,926,834 shares, compared to its average volume of 4,012,147. The firm has a market cap of $62,218.23, a P/E ratio of 30.72, a P/E/G ratio of 2.63 and a beta of 0.79. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 27.02. Colgate-Palmolive has a 52-week low of $68.19 and a 52-week high of $77.91.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 26th. The company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. research analysts forecast that Colgate-Palmolive will post 3.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.40. Colgate-Palmolive’s dividend payout ratio is presently 70.18%.
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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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