Welch & Forbes LLC decreased its holdings in Colgate-Palmolive (NYSE:CL) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,915 shares of the company’s stock after selling 5,357 shares during the quarter. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $6,368,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CL. Kentucky Retirement Systems acquired a new position in Colgate-Palmolive in the third quarter valued at approximately $4,732,000. Cohen & Steers Inc. boosted its holdings in shares of Colgate-Palmolive by 0.5% in the third quarter. Cohen & Steers Inc. now owns 355,011 shares of the company’s stock valued at $23,768,000 after acquiring an additional 1,917 shares during the period. Standard Life Aberdeen plc boosted its holdings in shares of Colgate-Palmolive by 5.0% in the third quarter. Standard Life Aberdeen plc now owns 345,470 shares of the company’s stock valued at $23,130,000 after acquiring an additional 16,446 shares during the period. Legal & General Group Plc boosted its holdings in shares of Colgate-Palmolive by 4.6% in the third quarter. Legal & General Group Plc now owns 4,314,368 shares of the company’s stock valued at $288,821,000 after acquiring an additional 190,876 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Colgate-Palmolive by 15.0% in the third quarter. Morgan Stanley now owns 7,212,524 shares of the company’s stock valued at $482,879,000 after acquiring an additional 941,008 shares during the period. 74.63% of the stock is currently owned by institutional investors.
In other Colgate-Palmolive news, CEO Ian M. Cook sold 16,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $1,067,520.00. Following the completion of the transaction, the chief executive officer now owns 1,146,793 shares in the company, valued at $76,514,028.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Justin Skala sold 92,643 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $70.78, for a total value of $6,557,271.54. Following the completion of the transaction, the vice president now owns 163,653 shares of the company’s stock, valued at approximately $11,583,359.34. The disclosure for this sale can be found here. Insiders sold 335,211 shares of company stock valued at $23,724,495 in the last quarter. 1.14% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on CL. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Wednesday, May 1st. ValuEngine raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Morgan Stanley increased their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Macquarie increased their price objective on Colgate-Palmolive from $65.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Jefferies Financial Group upped their price target on Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $69.69.
Shares of Colgate-Palmolive stock traded down $0.55 during trading hours on Friday, hitting $71.20. 1,941,506 shares of the company were exchanged, compared to its average volume of 3,688,568. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $73.10. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74. The stock has a market capitalization of $61.60 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 4.69 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive will post 2.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a $0.43 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, April 17th. This represents a $1.72 annualized dividend and a yield of 2.42%. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
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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