Mercer Global Advisors Inc. ADV raised its holdings in Colgate-Palmolive (NYSE:CL) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,433 shares of the company’s stock after acquiring an additional 2,439 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Colgate-Palmolive were worth $5,079,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CL. Altium Wealth Management LLC raised its holdings in Colgate-Palmolive by 19.3% in the fourth quarter. Altium Wealth Management LLC now owns 6,115 shares of the company’s stock worth $523,000 after purchasing an additional 990 shares during the period. Steel Peak Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter worth $229,000. Daiwa Securities Group Inc. raised its holdings in Colgate-Palmolive by 10.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 44,091 shares of the company’s stock worth $3,770,000 after purchasing an additional 4,062 shares during the period. Maryland State Retirement & Pension System acquired a new stake in Colgate-Palmolive in the fourth quarter worth $1,085,000. Finally, Regentatlantic Capital LLC raised its holdings in Colgate-Palmolive by 10.0% in the fourth quarter. Regentatlantic Capital LLC now owns 17,981 shares of the company’s stock worth $1,538,000 after purchasing an additional 1,633 shares during the period. 76.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider John W. Kooyman sold 11,195 shares of Colgate-Palmolive stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $82.07, for a total transaction of $918,773.65. Following the completion of the sale, the insider now owns 19,251 shares of the company’s stock, valued at approximately $1,579,929.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noel R. Wallace sold 25,279 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $81.03, for a total transaction of $2,048,357.37. Following the completion of the sale, the chief executive officer now owns 257,057 shares of the company’s stock, valued at approximately $20,829,328.71. The disclosure for this sale can be found here. In the last three months, insiders sold 91,040 shares of company stock valued at $7,384,255. Insiders own 0.32% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, April 29th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Colgate-Palmolive had a net margin of 15.92% and a return on equity of 298.80%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that Colgate-Palmolive will post 3.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Wednesday, July 21st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.82%.
A number of brokerages recently commented on CL. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, May 3rd. Credit Suisse Group upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $95.00 in a report on Wednesday. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 price objective on the stock in a report on Monday, May 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $84.42.
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. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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