Somerset Trust Co boosted its holdings in Colgate-Palmolive (NYSE:CL) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,104 shares of the company’s stock after buying an additional 496 shares during the period. Somerset Trust Co’s holdings in Colgate-Palmolive were worth $1,900,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 18,645,998 shares of the company’s stock worth $1,594,421,000 after purchasing an additional 408,068 shares in the last quarter. Northern Trust Corp boosted its stake in Colgate-Palmolive by 1.1% in the 4th quarter. Northern Trust Corp now owns 10,448,953 shares of the company’s stock valued at $893,490,000 after buying an additional 116,598 shares in the last quarter. Norges Bank acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $742,997,000. Price T Rowe Associates Inc. MD boosted its stake in Colgate-Palmolive by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,159,901 shares of the company’s stock valued at $526,700,000 after buying an additional 138,990 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Colgate-Palmolive by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 5,914,041 shares of the company’s stock valued at $505,709,000 after buying an additional 49,271 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.
CL traded up $0.14 during midday trading on Friday, reaching $79.78. 84,608 shares of the company were exchanged, compared to its average volume of 5,011,912. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.62 and a current ratio of 0.97. Colgate-Palmolive has a one year low of $65.54 and a one year high of $86.41. The stock has a market capitalization of $67.62 billion, a P/E ratio of 25.44, a PEG ratio of 3.83 and a beta of 0.59. The stock’s 50-day simple moving average is $76.92 and its 200 day simple moving average is $80.39.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, January 28th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.15 billion. Colgate-Palmolive had a return on equity of 383.88% and a net margin of 16.65%. Colgate-Palmolive’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. On average, research analysts anticipate that Colgate-Palmolive will post 3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Wednesday, April 21st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.44. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 62.19%.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 20,692 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $78.65, for a total transaction of $1,627,425.80. Following the transaction, the insider now owns 55,585 shares of the company’s stock, valued at approximately $4,371,760.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 463 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $77.16, for a total value of $35,725.08. Following the transaction, the insider now directly owns 7,160 shares in the company, valued at approximately $552,465.60. The disclosure for this sale can be found here. In the last three months, insiders sold 30,810 shares of company stock worth $2,418,650. 0.78% of the stock is owned by insiders.
Several analysts recently commented on the company. Credit Suisse Group raised Colgate-Palmolive from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $70.00 to $80.00 in a research note on Monday, February 1st. Sanford C. Bernstein began coverage on Colgate-Palmolive in a research note on Tuesday, January 19th. They issued an “underperform” rating and a $77.00 target price for the company. Royal Bank of Canada lowered Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a research note on Monday, January 4th. Berenberg Bank upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Tuesday, January 26th. Finally, Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 target price for the company. in a research note on Thursday, January 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $81.91.
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. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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