Dearborn Partners LLC trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 40.8% in the first quarter, Holdings Channel reports. The fund owned 9,322 shares of the company’s stock after selling 6,424 shares during the period. Dearborn Partners LLC’s holdings in Colgate-Palmolive were worth $639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. BB&T Corp lifted its holdings in shares of Colgate-Palmolive by 1.2% in the 1st quarter. BB&T Corp now owns 274,086 shares of the company’s stock worth $18,786,000 after acquiring an additional 3,129 shares during the last quarter. Ffcm LLC lifted its holdings in shares of Colgate-Palmolive by 5.6% in the 4th quarter. Ffcm LLC now owns 63,206 shares of the company’s stock worth $3,762,000 after acquiring an additional 3,325 shares during the last quarter. Nachman Norwood & Parrott Inc raised its holdings in Colgate-Palmolive by 1.9% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 11,101 shares of the company’s stock valued at $761,000 after buying an additional 209 shares during the last quarter. Strs Ohio raised its holdings in Colgate-Palmolive by 1.9% during the 1st quarter. Strs Ohio now owns 415,958 shares of the company’s stock valued at $28,509,000 after buying an additional 7,713 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new stake in Colgate-Palmolive during the 4th quarter valued at $7,765,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.
CL has been the subject of a number of recent analyst reports. Goldman Sachs Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Evercore ISI initiated coverage on shares of Colgate-Palmolive in a report on Thursday, January 10th. They set an “outperform” rating and a $70.00 price target for the company. Wells Fargo & Co reiterated a “hold” rating and set a $57.00 price target on shares of Colgate-Palmolive in a report on Friday, January 25th. Finally, Morgan Stanley set a $62.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $69.81.
Shares of Colgate-Palmolive stock opened at $71.69 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The firm has a market cap of $61.77 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 4.72 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $72.85.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. On average, analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.40%. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In other news, SVP John J. Huston sold 36,878 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.85, for a total value of $2,649,684.30. Following the sale, the senior vice president now directly owns 110,611 shares of the company’s stock, valued at approximately $7,947,400.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Noel R. Wallace sold 84,351 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.89, for a total transaction of $6,063,993.39. Following the completion of the sale, the chief executive officer now directly owns 279,023 shares in the company, valued at $20,058,963.47. The disclosure for this sale can be found here. Insiders sold a total of 246,149 shares of company stock worth $17,203,908 over the last ninety days. 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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