Great Lakes Advisors LLC decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 62.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,080 shares of the company’s stock after selling 16,961 shares during the period. Great Lakes Advisors LLC’s holdings in Colgate-Palmolive were worth $738,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CL. AE Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $401,000. Assenagon Asset Management S.A. bought a new stake in Colgate-Palmolive during the fourth quarter valued at $13,073,000. Sowell Financial Services LLC bought a new stake in Colgate-Palmolive during the fourth quarter valued at $173,000. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter valued at $455,526,000. Finally, Israel Discount Bank of New York GFN acquired a new position in Colgate-Palmolive during the fourth quarter valued at about $1,223,000. 73.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Company (NYSE:CL) traded down 0.18% during midday trading on Wednesday, hitting $71.57. 2,486,522 shares of the stock were exchanged. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a market cap of $63.04 billion, a PE ratio of 26.60 and a beta of 0.80. The stock has a 50 day moving average price of $73.49 and a 200-day moving average price of $72.60.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm posted $0.70 EPS. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s payout ratio is currently 59.48%.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://stocknewstimes.com/2017/08/09/great-lakes-advisors-llc-sells-16961-shares-of-colgate-palmolive-company-nysecl-updated.html.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $76.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, May 17th. Bank of America Corporation raised their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Vetr lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target for the company. in a research report on Wednesday, May 17th. Finally, BidaskClub downgraded shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the transaction, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total transaction of $290,043.11. Following the transaction, the insider now directly owns 53,022 shares in the company, valued at $4,012,174.74. The disclosure for this sale can be found here. Insiders have sold a total of 203,969 shares of company stock worth $14,711,068 over the last three months. 1.02% of the stock is currently owned by insiders.
About Colgate-Palmolive
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.
Receive News & Ratings for Colgate-Palmolive Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Company and related companies with MarketBeat.com's FREE daily email newsletter.
