Peregrine Asset Advisers Inc. purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,977 shares of the company’s stock, valued at approximately $2,329,000.
A number of other institutional investors have also recently bought and sold shares of the business. BB&T Corp raised its stake in Colgate-Palmolive by 1.2% during the 1st quarter. BB&T Corp now owns 274,086 shares of the company’s stock worth $18,786,000 after buying an additional 3,129 shares during the period. Ffcm LLC raised its stake in Colgate-Palmolive by 5.6% during the 4th quarter. Ffcm LLC now owns 63,206 shares of the company’s stock worth $3,762,000 after buying an additional 3,325 shares during the period. Nachman Norwood & Parrott Inc raised its stake in shares of Colgate-Palmolive by 1.9% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 11,101 shares of the company’s stock valued at $761,000 after purchasing an additional 209 shares during the period. Strs Ohio raised its stake in shares of Colgate-Palmolive by 1.9% in the 1st quarter. Strs Ohio now owns 415,958 shares of the company’s stock valued at $28,509,000 after purchasing an additional 7,713 shares during the period. Finally, River & Mercantile Asset Management LLP acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $7,765,000. 74.63% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. ValuEngine raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a report on Tuesday, March 19th. Morgan Stanley raised 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. Finally, UBS Group raised their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.69.
Shares of NYSE:CL traded down $0.55 during trading on Friday, reaching $71.20. 1,941,506 shares of the stock were exchanged, compared to its average volume of 3,688,568. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $73.10. The stock has a market cap of $61.60 billion, a PE ratio of 23.97, a P/E/G ratio of 4.69 and a beta of 0.81. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 32.25.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, April 17th. Colgate-Palmolive’s payout ratio is presently 57.91%.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $71.55, for a total transaction of $572,400.00. Following the completion of the transaction, the director now directly owns 39,441 shares in the company, valued at $2,822,003.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Justin Skala sold 92,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total transaction of $6,557,271.54. Following the transaction, the vice president now owns 163,653 shares of the company’s stock, valued at $11,583,359.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,211 shares of company stock valued at $23,724,495. 1.14% of the stock is owned by company insiders.
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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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