Abner Herrman & Brock LLC lessened its stake in Colgate-Palmolive (NYSE:CL) by 31.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,727 shares of the company’s stock after selling 4,081 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Colgate-Palmolive were worth $519,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Middleton & Co Inc MA lifted its stake in Colgate-Palmolive by 4.4% during the third quarter. Middleton & Co Inc MA now owns 79,713 shares of the company’s stock worth $5,337,000 after purchasing an additional 3,340 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Colgate-Palmolive by 203.2% during the second quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after purchasing an additional 23,169 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Colgate-Palmolive by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after purchasing an additional 1,596,825 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Colgate-Palmolive by 823.1% during the second quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after purchasing an additional 9,877 shares during the last quarter. Finally, Calamos Advisors LLC lifted its stake in Colgate-Palmolive by 13.9% during the third quarter. Calamos Advisors LLC now owns 118,244 shares of the company’s stock worth $7,916,000 after purchasing an additional 14,404 shares during the last quarter. Institutional investors and hedge funds own 74.54% of the company’s stock.
Several research firms recently weighed in on CL. Evercore ISI began coverage on Colgate-Palmolive in a research note on Thursday. They set an “outperform” rating and a $70.00 target price for the company. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group raised Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley cut their price target on Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, October 30th. Finally, Argus cut their price target on Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $67.87.
Shares of NYSE:CL traded up $0.30 during trading on Friday, reaching $62.12. The company had a trading volume of 108,839 shares, compared to its average volume of 4,973,457. The firm has a market cap of $53.17 billion, a P/E ratio of 21.65, a PEG ratio of 2.94 and a beta of 0.75. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $77.91.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 23rd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.70%. Colgate-Palmolive’s payout ratio is currently 58.54%.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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