Tufton Capital Management reduced its position in Colgate-Palmolive (NYSE:CL) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,263 shares of the company’s stock after selling 659 shares during the quarter. Tufton Capital Management’s holdings in Colgate-Palmolive were worth $5,706,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CL. Lynch & Associates IN raised its stake in shares of Colgate-Palmolive by 0.6% during the first quarter. Lynch & Associates IN now owns 28,930 shares of the company’s stock worth $1,983,000 after purchasing an additional 160 shares during the last quarter. Private Capital Group LLC raised its position in Colgate-Palmolive by 4.6% in the first quarter. Private Capital Group LLC now owns 3,801 shares of the company’s stock worth $261,000 after acquiring an additional 168 shares in the last quarter. HighPoint Advisor Group LLC raised its position in Colgate-Palmolive by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,799 shares of the company’s stock worth $520,000 after acquiring an additional 193 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Colgate-Palmolive by 2.4% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,521 shares of the company’s stock worth $584,000 after acquiring an additional 196 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Colgate-Palmolive by 3.7% in the fourth quarter. Cerity Partners LLC now owns 5,466 shares of the company’s stock worth $325,000 after acquiring an additional 197 shares in the last quarter. 74.63% of the stock is owned by institutional investors and hedge funds.
Shares of CL stock traded down $0.55 during mid-day trading on Friday, reaching $71.20. The stock had a trading volume of 1,941,506 shares, 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 P/E 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 announced 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. 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 business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.
In related news, Chairman Ian M. Cook sold 19,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $71.20, for a total transaction of $1,388,400.00. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $70.78, for a total value of $6,557,271.54. Following the sale, the vice president now directly owns 163,653 shares in the company, valued at approximately $11,583,359.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 335,211 shares of company stock worth $23,724,495. Corporate insiders own 1.14% of the company’s stock.
CL has been the subject of several research analyst reports. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Morgan Stanley increased their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. UBS Group increased their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. BNP Paribas upgraded Colgate-Palmolive from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $56.00 to $67.00 in a research report on Monday, February 11th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $57.00 price objective on shares of Colgate-Palmolive in a research report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.69.
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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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