Court Place Advisors LLC lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,947 shares of the company’s stock after selling 1,103 shares during the quarter. Colgate-Palmolive makes up about 1.0% of Court Place Advisors LLC’s portfolio, making the stock its 28th biggest position. Court Place Advisors LLC’s holdings in Colgate-Palmolive were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Mackenzie Financial Corp raised its position in Colgate-Palmolive by 7.3% during the second quarter. Mackenzie Financial Corp now owns 1,387,693 shares of the company’s stock valued at $99,456,000 after purchasing an additional 94,086 shares during the period. Maverick Capital Ltd. purchased a new stake in Colgate-Palmolive during the second quarter valued at approximately $3,173,000. Colony Group LLC raised its position in Colgate-Palmolive by 22.1% during the second quarter. Colony Group LLC now owns 35,163 shares of the company’s stock valued at $2,520,000 after purchasing an additional 6,373 shares during the period. Barings LLC raised its position in Colgate-Palmolive by 51.0% during the second quarter. Barings LLC now owns 129,140 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,613 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Colgate-Palmolive during the second quarter valued at approximately $114,000. 76.68% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Ian M. Cook sold 17,750 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $68.85, for a total value of $1,222,087.50. Following the transaction, the chairman now owns 1,081,611 shares of the company’s stock, valued at $74,468,917.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ian M. Cook sold 16,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.70, for a total value of $1,067,200.00. Following the completion of the transaction, the chairman now directly owns 1,099,361 shares in the company, valued at approximately $73,327,378.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,250 shares of company stock worth $4,736,203. Company insiders own 1.14% of the company’s stock.
A number of brokerages have issued reports on CL. Berenberg Bank began coverage on Colgate-Palmolive in a research report on Wednesday, October 16th. They set a “sell” rating and a $58.00 price objective on the stock. Morgan Stanley set a $71.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, November 4th. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 price objective on the stock. in a research report on Monday, November 4th. Bank of America downgraded Colgate-Palmolive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $74.00 in a research report on Thursday, December 19th. Finally, Deutsche Bank upped their price objective on Colgate-Palmolive from $72.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $73.36.
Shares of NYSE CL opened at $69.71 on Wednesday. The company has a debt-to-equity ratio of 43.94, a quick ratio of 0.70 and a current ratio of 1.03. The business’s 50 day moving average price is $69.29 and its 200-day moving average price is $70.21. Colgate-Palmolive has a fifty-two week low of $62.70 and a fifty-two week high of $76.41. The company has a market cap of $60.25 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 5.43 and a beta of 0.71.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 23rd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.72 annualized dividend and a dividend yield of 2.47%. Colgate-Palmolive’s payout ratio is 57.91%.
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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