Victory Capital Management Inc. lifted its position in Colgate-Palmolive (NYSE:CL) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,096 shares of the company’s stock after buying an additional 23,989 shares during the quarter. Victory Capital Management Inc.’s holdings in Colgate-Palmolive were worth $5,885,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in CL. YCG LLC boosted its position in Colgate-Palmolive by 21.3% during the first quarter. YCG LLC now owns 571,036 shares of the company’s stock worth $40,697,000 after purchasing an additional 100,348 shares during the period. Trexquant Investment LP boosted its position in Colgate-Palmolive by 32.5% during the first quarter. Trexquant Investment LP now owns 49,156 shares of the company’s stock worth $3,524,000 after purchasing an additional 12,045 shares during the period. Zions Bancorporation bought a new position in Colgate-Palmolive during the first quarter worth $457,000. Summit Global Investments boosted its position in Colgate-Palmolive by 27.8% during the first quarter. Summit Global Investments now owns 60,666 shares of the company’s stock worth $4,348,000 after purchasing an additional 13,191 shares during the period. Finally, Advisor Partners LLC boosted its position in Colgate-Palmolive by 7.7% during the first quarter. Advisor Partners LLC now owns 15,994 shares of the company’s stock worth $1,146,000 after purchasing an additional 1,137 shares during the period. 73.30% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on CL shares. Morgan Stanley cut shares of Colgate-Palmolive from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, April 18th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Tuesday, April 17th. Barclays set a $75.00 price objective on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Thursday, March 15th. Finally, Jefferies Group reissued a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $76.75.
In related news, Vice Chairman Franck J. Moison sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $61.75, for a total value of $4,940,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel B. Marsili sold 19,500 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $71.85, for a total value of $1,401,075.00. Following the completion of the transaction, the insider now directly owns 77,935 shares of the company’s stock, valued at approximately $5,599,629.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,079 shares of company stock valued at $8,981,683. 1.02% of the stock is owned by insiders.
CL opened at $62.72 on Thursday. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.08 and a quick ratio of 0.75. The firm has a market cap of $54.44 billion, a PE ratio of 21.85, a PEG ratio of 2.47 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 27th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. Colgate-Palmolive’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. sell-side analysts predict that Colgate-Palmolive will post 3.17 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Friday, April 20th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.40. Colgate-Palmolive’s payout ratio is 58.54%.
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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