CX Institutional grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 44.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,985 shares of the company’s stock after buying an additional 615 shares during the quarter. CX Institutional’s holdings in Colgate-Palmolive were worth $153,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CL. Balentine LLC bought a new position in Colgate-Palmolive during the first quarter worth $36,000. Keebeck Wealth Management LLC bought a new position in Colgate-Palmolive during the second quarter worth $41,000. Capital Advisory Group Advisory Services LLC bought a new position in Colgate-Palmolive during the first quarter worth $45,000. Okabena Investment Services Inc. bought a new position in Colgate-Palmolive during the second quarter worth $51,000. Finally, Ellevest Inc. lifted its stake in Colgate-Palmolive by 262.8% during the second quarter. Ellevest Inc. now owns 751 shares of the company’s stock worth $55,000 after purchasing an additional 544 shares during the last quarter. Institutional investors own 76.74% of the company’s stock.
In related news, CEO Noel R. Wallace sold 85,929 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $76.37, for a total transaction of $6,562,397.73. Following the completion of the sale, the chief executive officer now directly owns 282,097 shares of the company’s stock, valued at $21,543,747.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Daniels sold 41,386 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $75.80, for a total transaction of $3,137,058.80. Following the sale, the insider now directly owns 76,228 shares of the company’s stock, valued at $5,778,082.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,994 shares of company stock valued at $19,678,851. Company insiders own 0.78% of the company’s stock.
Several equities analysts recently issued reports on CL shares. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on Colgate-Palmolive from $75.00 to $78.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Morgan Stanley upped their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $88.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, July 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $75.27.
Colgate-Palmolive stock opened at $79.86 on Thursday. The firm has a 50-day moving average price of $77.50 and a two-hundred day moving average price of $73.66. The firm has a market capitalization of $69.13 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 4.63 and a beta of 0.59. Colgate-Palmolive has a 52-week low of $58.49 and a 52-week high of $80.99. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 9.40.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.78 billion. Colgate-Palmolive had a net margin of 16.13% and a return on equity of 559.34%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Research analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, October 22nd. Colgate-Palmolive’s dividend payout ratio is currently 62.19%.
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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