Wealth Advisors of Tampa Bay LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the 4th quarter, Holdings Channel reports. The fund acquired 11,927 shares of the company’s stock, valued at approximately $901,000.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Colgate-Palmolive by 42.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after purchasing an additional 2,903,800 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Colgate-Palmolive by 25.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after purchasing an additional 1,385,946 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Colgate-Palmolive by 35.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock worth $483,837,000 after purchasing an additional 1,750,417 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Colgate-Palmolive by 33.2% during the 4th quarter. APG Asset Management N.V. now owns 5,421,184 shares of the company’s stock worth $340,630,000 after purchasing an additional 1,350,400 shares during the last quarter. Hedge funds and other institutional investors own 71.52% of the company’s stock.
Several research analysts recently issued reports on CL shares. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research report on Tuesday, January 30th. Morgan Stanley cut their price objective on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating for the company in a research report on Tuesday, October 31st. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Jefferies Group cut their price objective on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Monday, October 30th. Finally, Deutsche Bank started coverage on Colgate-Palmolive in a research report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $77.91.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 26th. The company reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. Colgate-Palmolive’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. equities research analysts anticipate that Colgate-Palmolive will post 3.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, January 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is 70.18%.
In other news, Vice Chairman Franck J. Moison sold 142,979 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $70.09, for a total transaction of $10,021,398.11. Following the completion of the sale, the insider now directly owns 224,027 shares in the company, valued at approximately $15,702,052.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John T. Cahill sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $69.96, for a total value of $489,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 421,019 shares of company stock valued at $30,031,097. Insiders own 1.02% of the company’s stock.
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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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