New York State Common Retirement Fund decreased its position in Colgate-Palmolive (NYSE:CL) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,705,674 shares of the company’s stock after selling 6,866 shares during the quarter. New York State Common Retirement Fund owned 0.31% of Colgate-Palmolive worth $200,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new position in Colgate-Palmolive during the 1st quarter valued at $102,000. Proficio Capital Partners LLC lifted its holdings in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after buying an additional 207 shares during the period. OLD Second National Bank of Aurora purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth $109,000. Hanson & Doremus Investment Management lifted its holdings in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth $122,000. 72.96% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on CL. SunTrust Banks upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Societe Generale cut Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price objective for the company. in a research note on Wednesday, November 29th. They noted that the move was a valuation call. Citigroup decreased their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Stifel Nicolaus set a $73.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Sunday, October 29th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.04.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. equities analysts expect that Colgate-Palmolive will post 2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 61.78%.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the transaction, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria L. Dolan sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total value of $660,690.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,673 shares of company stock worth $12,629,293. 1.02% of the stock is owned by corporate insiders.
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.
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