O Brien Wealth Partners LLC purchased a new position in shares of Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,840 shares of the company’s stock, valued at approximately $123,000.
Several other large investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Colgate-Palmolive by 2.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,233,699 shares of the company’s stock worth $209,577,000 after buying an additional 70,318 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Colgate-Palmolive by 203.2% in the 2nd quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after buying an additional 23,169 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Colgate-Palmolive by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock worth $439,801,000 after buying an additional 405,430 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 95,681 shares of the company’s stock worth $6,201,000 after buying an additional 1,857 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Colgate-Palmolive by 823.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after buying an additional 9,877 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors and hedge funds.
CL has been the topic of several recent research reports. Morgan Stanley decreased their price objective on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 21st. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Wells Fargo & Co lowered shares of Colgate-Palmolive to a “hold” rating in a research report on Tuesday, July 17th. UBS Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $75.00 in a research report on Wednesday, July 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $72.13.
NYSE:CL traded up $0.10 on Tuesday, reaching $65.45. The stock had a trading volume of 47,441 shares, compared to its average volume of 3,929,820. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. Colgate-Palmolive has a 12-month low of $61.28 and a 12-month high of $77.91.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. On average, equities research analysts forecast that Colgate-Palmolive will post 3.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.57%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
Colgate-Palmolive announced that its board has initiated a share buyback program on Monday, June 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
Read More: Discount Rate
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.