Zevin Asset Management LLC increased its position in shares of Colgate-Palmolive (NYSE:CL) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,563 shares of the company’s stock after buying an additional 1,451 shares during the period. Colgate-Palmolive accounts for approximately 1.5% of Zevin Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Zevin Asset Management LLC’s holdings in Colgate-Palmolive were worth $4,673,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Krane Funds Advisors LLC purchased a new position in shares of Colgate-Palmolive during the second quarter valued at approximately $25,000. Retirement Income Solutions Inc grew its stake in shares of Colgate-Palmolive by 5.5% in the third quarter. Retirement Income Solutions Inc now owns 10,067 shares of the company’s stock worth $740,000 after acquiring an additional 524 shares during the last quarter. Investec Asset Management North America Inc. grew its stake in shares of Colgate-Palmolive by 12.4% in the second quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock worth $633,000 after acquiring an additional 972 shares during the last quarter. Manning & Napier Group LLC grew its stake in shares of Colgate-Palmolive by 1.4% in the second quarter. Manning & Napier Group LLC now owns 656,289 shares of the company’s stock worth $47,035,000 after acquiring an additional 9,351 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its stake in shares of Colgate-Palmolive by 93.0% in the second quarter. Meadow Creek Investment Management LLC now owns 45,100 shares of the company’s stock worth $3,232,000 after acquiring an additional 21,736 shares during the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
In other news, insider Patricia Verduin sold 44,572 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.01, for a total value of $3,165,057.72. Following the completion of the sale, the insider now directly owns 93,296 shares of the company’s stock, valued at approximately $6,624,948.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Henning I. Jakobsen sold 858 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.60, for a total value of $64,006.80. Following the completion of the sale, the chief financial officer now directly owns 39,031 shares of the company’s stock, valued at $2,911,712.60. The disclosure for this sale can be found here. Insiders sold a total of 193,361 shares of company stock valued at $13,722,098 over the last ninety days. Corporate insiders own 1.14% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last released its earnings results 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 analysts’ expectations of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is 57.91%.
A number of research firms have recently commented on CL. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $76.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Morgan Stanley set a $71.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, November 4th. ValuEngine downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 price target on the stock. in a report on Monday, November 4th. Finally, UBS Group lowered their price target on Colgate-Palmolive from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, eight have given 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 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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