Resource Management LLC lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,652 shares of the company’s stock after selling 607 shares during the quarter. Resource Management LLC’s holdings in Colgate-Palmolive were worth $262,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CL. Horizon Investments LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $211,000. BB&T Corp lifted its holdings in shares of Colgate-Palmolive by 1.2% in the 1st quarter. BB&T Corp now owns 274,086 shares of the company’s stock worth $18,786,000 after acquiring an additional 3,129 shares during the last quarter. Nachman Norwood & Parrott Inc lifted its holdings in shares of Colgate-Palmolive by 1.9% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 11,101 shares of the company’s stock worth $761,000 after acquiring an additional 209 shares during the last quarter. Strs Ohio lifted its holdings in shares of Colgate-Palmolive by 1.9% in the 1st quarter. Strs Ohio now owns 415,958 shares of the company’s stock worth $28,509,000 after acquiring an additional 7,713 shares during the last quarter. Finally, Clarius Group LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $306,000. Institutional investors and hedge funds own 75.60% of the company’s stock.
CL traded down $0.05 on Friday, reaching $71.66. 75,219 shares of the company traded hands, compared to its average volume of 3,687,278. Colgate-Palmolive has a one year low of $57.41 and a one year high of $76.41. The firm has a fifty day moving average price of $72.84. The firm has a market capitalization of $59.93 billion, a P/E ratio of 24.13, a P/E/G ratio of 4.50 and a beta of 0.76. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.
CL has been the subject of several analyst reports. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a report on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $62.00 to $70.00 in a report on Monday, April 29th. Jefferies Financial Group lifted their price objective on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Argus lifted their price objective on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $73.13.
In other Colgate-Palmolive news, insider Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $74.19, for a total transaction of $1,446,705.00. Following the transaction, the insider now owns 1,127,542 shares of the company’s stock, valued at approximately $83,652,340.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the transaction, the chief financial officer now directly owns 73,693 shares in the company, valued at approximately $5,412,750.85. The disclosure for this sale can be found here. Insiders have sold a total of 434,875 shares of company stock worth $31,360,713 in the last three months. 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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