Sunbelt Securities Inc. acquired a new stake in Colgate-Palmolive (NYSE:CL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,615 shares of the company’s stock, valued at approximately $266,000.
A number of other hedge funds also recently modified their holdings of the stock. Heritage Way Advisors LLC boosted its position in shares of Colgate-Palmolive by 0.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 33,769 shares of the company’s stock worth $2,420,000 after purchasing an additional 146 shares in the last quarter. Bridger Capital Management LLC lifted its position in Colgate-Palmolive by 0.8% in the 3rd quarter. Bridger Capital Management LLC now owns 18,265 shares of the company’s stock valued at $1,243,000 after acquiring an additional 150 shares in the last quarter. Moloney Securities Asset Management LLC lifted its position in Colgate-Palmolive by 2.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,038 shares of the company’s stock valued at $433,000 after acquiring an additional 157 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in Colgate-Palmolive by 3.0% in the 3rd quarter. Cornerstone Advisors Inc. now owns 5,399 shares of the company’s stock valued at $397,000 after acquiring an additional 159 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its position in Colgate-Palmolive by 1.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 16,694 shares of the company’s stock valued at $1,196,000 after acquiring an additional 164 shares in the last quarter. 76.74% of the stock is owned by hedge funds and other institutional investors.
In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 858 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.60, for a total value of $64,006.80. Following the completion of the sale, the chief financial officer now owns 39,031 shares in the company, valued at approximately $2,911,712.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ian M. Cook sold 19,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $69.51, for a total value of $1,355,445.00. Following the completion of the sale, the chairman now owns 1,066,725 shares of the company’s stock, valued at approximately $74,148,054.75. The disclosure for this sale can be found here. Insiders sold a total of 111,986 shares of company stock valued at $7,743,835 over the last 90 days. 1.14% of the stock is currently owned by company insiders.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. Colgate-Palmolive’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd were paid a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.72 annualized dividend and a dividend yield of 2.54%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.
Several equities analysts recently issued reports on CL shares. Berenberg Bank began coverage on Colgate-Palmolive in a research report on Wednesday, October 16th. They issued a “sell” rating and a $58.00 price objective on the stock. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 price target on the stock. in a report on Monday, November 4th. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Morgan Stanley set a $71.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $78.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $73.29.
Colgate-Palmolive Company Profile
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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