Shell Asset Management Co. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,660 shares of the company’s stock after purchasing an additional 557 shares during the quarter. Shell Asset Management Co.’s holdings in Colgate-Palmolive were worth $10,600,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Lynch & Associates IN increased its position in Colgate-Palmolive by 0.6% during the 1st quarter. Lynch & Associates IN now owns 28,930 shares of the company’s stock worth $1,983,000 after purchasing an additional 160 shares in the last quarter. First National Bank of Omaha boosted its stake in Colgate-Palmolive by 1.2% in the 1st quarter. First National Bank of Omaha now owns 13,499 shares of the company’s stock worth $925,000 after buying an additional 160 shares during the last quarter. Griffin Asset Management Inc. boosted its stake in Colgate-Palmolive by 0.8% in the 1st quarter. Griffin Asset Management Inc. now owns 20,357 shares of the company’s stock worth $1,395,000 after buying an additional 164 shares during the last quarter. Private Capital Group LLC boosted its stake in Colgate-Palmolive by 4.6% in the 1st quarter. Private Capital Group LLC now owns 3,801 shares of the company’s stock worth $261,000 after buying an additional 168 shares during the last quarter. Finally, Buckingham Capital Management Inc. boosted its stake in Colgate-Palmolive by 0.5% in the 1st quarter. Buckingham Capital Management Inc. now owns 34,514 shares of the company’s stock worth $2,366,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 75.69% of the company’s stock.
CL has been the topic of a number of research analyst reports. BNP Paribas raised Colgate-Palmolive from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $56.00 to $67.00 in a research note on Monday, February 11th. Jefferies Financial Group reissued a “hold” rating and issued a $61.00 price target on shares of Colgate-Palmolive in a research note on Friday, February 1st. JPMorgan Chase & Co. raised Colgate-Palmolive from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $62.00 to $70.00 in a research note on Monday, April 29th. Macquarie raised their price target on Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Morgan Stanley set a $62.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and an average price target of $69.53.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts expect that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a $0.43 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, April 17th. Colgate-Palmolive’s payout ratio is currently 57.91%.
In related news, Director Stephen I. Sadove sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $71.55, for a total transaction of $572,400.00. Following the transaction, the director now directly owns 39,441 shares of the company’s stock, valued at approximately $2,822,003.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Justin Skala sold 92,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $70.78, for a total value of $6,557,271.54. Following the transaction, the vice president now directly owns 163,653 shares in the company, valued at $11,583,359.34. The disclosure for this sale can be found here. Insiders sold a total of 335,211 shares of company stock worth $23,724,495 over the last ninety days. Corporate insiders own 1.14% of the company’s stock.
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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