RiverPoint Capital Management LLC boosted its stake in Colgate-Palmolive Co. (NYSE:CL) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,706 shares of the company’s stock after buying an additional 176 shares during the period. RiverPoint Capital Management LLC’s holdings in Colgate-Palmolive were worth $423,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Zevenbergen Capital Investments LLC raised its stake in shares of Colgate-Palmolive by 14.9% in the third quarter. Zevenbergen Capital Investments LLC now owns 5,410 shares of the company’s stock valued at $401,000 after buying an additional 700 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Colgate-Palmolive by 1.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 142,843 shares of the company’s stock valued at $10,590,000 after buying an additional 2,311 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Colgate-Palmolive by 7.7% in the third quarter. Ropes Wealth Advisors LLC now owns 19,120 shares of the company’s stock valued at $1,418,000 after buying an additional 1,368 shares during the last quarter. Northern Trust Corp raised its stake in shares of Colgate-Palmolive by 0.8% in the third quarter. Northern Trust Corp now owns 10,847,126 shares of the company’s stock valued at $804,207,000 after buying an additional 81,220 shares during the last quarter. Finally, Westpac Banking Corp raised its stake in shares of Colgate-Palmolive by 3.4% in the third quarter. Westpac Banking Corp now owns 253,481 shares of the company’s stock valued at $18,793,000 after buying an additional 8,315 shares during the last quarter. 71.69% of the stock is owned by institutional investors.
Colgate-Palmolive Co. (NYSE:CL) traded down 0.64% during midday trading on Thursday, hitting $67.04. The company had a trading volume of 2,767,856 shares. Colgate-Palmolive Co. has a 1-year low of $61.91 and a 1-year high of $75.38. The firm has a market capitalization of $59.59 billion, a P/E ratio of 43.85 and a beta of 0.67. The company has a 50 day moving average price of $66.02 and a 200 day moving average price of $70.86.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a return on equity of 6,924.14% and a net margin of 8.96%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Equities research analysts forecast that Colgate-Palmolive Co. will post $2.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Monday, January 23rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, January 19th. Colgate-Palmolive’s dividend payout ratio is currently 101.96%.
Several brokerages recently commented on CL. Barclays PLC reaffirmed a “hold” rating and issued a $63.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, January 10th. RBC Capital Markets set a $71.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, January 2nd. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Tuesday, December 27th. Wells Fargo & Co. reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Tuesday, November 15th. Finally, B. Riley reiterated a “neutral” rating and set a $78.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $75.59.
In other news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $65.66, for a total transaction of $251,740.44. Following the sale, the insider now directly owns 54,791 shares in the company, valued at approximately $3,597,577.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Daniels sold 7,072 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $66.78, for a total value of $472,268.16. Following the sale, the insider now owns 37,463 shares in the company, valued at $2,501,779.14. The disclosure for this sale can be found here. Insiders have sold a total of 11,774 shares of company stock worth $781,835 over the last ninety days. 1.05% of the stock is owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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