Bingham Osborn & Scarborough LLC decreased its holdings in Colgate-Palmolive (NYSE:CL) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,609 shares of the company’s stock after selling 548 shares during the quarter. Bingham Osborn & Scarborough LLC’s holdings in Colgate-Palmolive were worth $265,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in Colgate-Palmolive during the second quarter valued at about $25,000. Julex Capital Management LLC bought a new position in Colgate-Palmolive during the third quarter valued at about $27,000. Lipe & Dalton bought a new position in Colgate-Palmolive during the second quarter valued at about $29,000. Quest Capital Management Inc. ADV bought a new position in Colgate-Palmolive during the third quarter valued at about $31,000. Finally, Horan Capital Advisors LLC. bought a new position in Colgate-Palmolive during the third quarter valued at about $32,000. 76.09% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the company. Berenberg Bank assumed coverage on Colgate-Palmolive in a research note on Wednesday, October 16th. They set a “sell” rating and a $58.00 target price for the company. Deutsche Bank upped their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a report on Friday, July 12th. UBS Group reduced their target price on Colgate-Palmolive from $82.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Wells Fargo & Co upped their target price on Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.57.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.71 earnings per share (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 the consensus estimate of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, October 22nd. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In related news, CMO John W. Kooyman sold 10,714 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $71.01, for a total value of $760,801.14. Following the completion of the sale, the chief marketing officer now directly owns 17,681 shares of the company’s stock, valued at approximately $1,255,527.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Philip G. Shotts sold 407 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.60, for a total value of $30,362.20. Following the completion of the sale, the vice president now directly owns 41,323 shares of the company’s stock, valued at $3,082,695.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,361 shares of company stock valued at $13,722,098. Company insiders own 1.14% of the company’s stock.
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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