Spirit of America Management Corp NY Takes Position in Colgate-Palmolive Company (CL)

Spirit of America Management Corp NY purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors have also added to or reduced their stakes in CL. Roffman Miller Associates Inc. PA boosted its stake in Colgate-Palmolive by 3.8% in the second quarter. Roffman Miller Associates Inc. PA now owns 192,616 shares of the company’s stock worth $14,279,000 after buying an additional 6,985 shares during the period. Nisa Investment Advisors LLC boosted its stake in Colgate-Palmolive by 7.7% in the second quarter. Nisa Investment Advisors LLC now owns 386,222 shares of the company’s stock worth $28,760,000 after buying an additional 27,576 shares during the period. Marathon Asset Management LLP boosted its stake in Colgate-Palmolive by 21.1% in the second quarter. Marathon Asset Management LLP now owns 1,491,250 shares of the company’s stock worth $110,546,000 after buying an additional 259,756 shares during the period. Middleton & Co Inc MA boosted its stake in Colgate-Palmolive by 2.4% in the second quarter. Middleton & Co Inc MA now owns 79,759 shares of the company’s stock worth $5,913,000 after buying an additional 1,905 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Colgate-Palmolive during the second quarter worth $6,408,000. Institutional investors own 73.85% of the company’s stock.

Shares of Colgate-Palmolive Company (NYSE:CL) opened at 71.48 on Monday. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The firm has a market capitalization of $62.96 billion, a PE ratio of 26.56 and a beta of 0.80. The stock has a 50 day moving average price of $73.87 and a 200-day moving average price of $72.62.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $0.70 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.

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A number of brokerages have recently weighed in on CL. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a report on Thursday, May 25th. UBS AG reaffirmed a “neutral” rating and set a $78.00 target price (down from $79.00) on shares of Colgate-Palmolive in a report on Tuesday, May 2nd. BidaskClub lowered Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $79.00 target price (up from $77.00) on shares of Colgate-Palmolive in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.82.

In related news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the transaction, the insider now directly owns 53,022 shares in the company, valued at $3,839,323.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total value of $1,001,420.00. Following the completion of the transaction, the senior vice president now owns 102,838 shares of the company’s stock, valued at $7,356,002.14. The disclosure for this sale can be found here. Insiders have sold 109,097 shares of company stock valued at $7,905,278 over the last 90 days. Insiders own 1.02% of the company’s stock.

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.