Homrich & Berg lifted its stake in Colgate-Palmolive (NYSE:CL) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,474 shares of the company’s stock after acquiring an additional 2,128 shares during the quarter. Homrich & Berg’s holdings in Colgate-Palmolive were worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new stake in Colgate-Palmolive during the first quarter valued at approximately $29,000. Lipe & Dalton bought a new stake in Colgate-Palmolive during the second quarter valued at approximately $29,000. Princeton Global Asset Management LLC bought a new stake in Colgate-Palmolive during the first quarter valued at approximately $43,000. Manchester Financial Inc. bought a new stake in Colgate-Palmolive during the second quarter valued at approximately $46,000. Finally, First Bank & Trust bought a new stake in Colgate-Palmolive during the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 75.83% of the company’s stock.
Several equities analysts have weighed in on CL shares. Citigroup lifted their price target on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group lifted their price target on shares of Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their price target 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. Piper Jaffray Companies started coverage on shares of Colgate-Palmolive in a report on Tuesday, August 13th. They set an “overweight” rating on the stock. Finally, Argus lifted their price target 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 equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.87.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
In related news, insider Ian M. Cook sold 19,500 shares of the company’s stock in a transaction on 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 sale, the insider now owns 1,127,542 shares of the company’s stock, valued at $83,652,340.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John J. Huston sold 473 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $72.93, for a total transaction of $34,495.89. Following the sale, the senior vice president now directly owns 59,668 shares in the company, valued at approximately $4,351,587.24. The disclosure for this sale can be found here. Insiders sold 564,285 shares of company stock worth $40,530,290 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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