Harding Loevner LP cut its stake in Colgate-Palmolive Co. (NYSE:CL) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 2,682,347 shares of the company’s stock after selling 4,966 shares during the period. Colgate-Palmolive comprises 1.4% of Harding Loevner LP’s portfolio, making the stock its 25th largest position. Harding Loevner LP’s holdings in Colgate-Palmolive were worth $198,869,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of CL. Peavine Capital Management LLC bought a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $287,000. Northstar Group Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the second quarter. Northstar Group Inc. now owns 4,994 shares of the company’s stock valued at $366,000 after buying an additional 18 shares during the period. Svenska Handelsbanken AB publ raised its stake in shares of Colgate-Palmolive by 39.6% in the second quarter. Svenska Handelsbanken AB publ now owns 13,400 shares of the company’s stock valued at $981,000 after buying an additional 3,800 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 795,478 shares of the company’s stock valued at $58,228,000 after buying an additional 3,115 shares during the period. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of Colgate-Palmolive by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 231,158 shares of the company’s stock valued at $16,921,000 after buying an additional 13,798 shares during the period. 73.12% of the stock is currently owned by institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.82% during midday trading on Friday, hitting $66.53. 1,302,337 shares of the stock were exchanged. The stock has a market cap of $59.13 billion, a price-to-earnings ratio of 43.51 and a beta of 0.73. The firm’s 50-day moving average is $69.86 and its 200-day moving average is $72.23. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. Equities research analysts predict that Colgate-Palmolive Co. will post $2.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 24th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.34%. Colgate-Palmolive’s dividend payout ratio is presently 101.96%.
CL has been the subject of several recent research reports. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Bank of America Corp. upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their target price for the company from $70.86 to $80.00 in a report on Monday, September 12th. Wells Fargo & Co. reiterated a “market perform” rating on shares of Colgate-Palmolive in a report on Tuesday, November 15th. KeyCorp initiated coverage on shares of Colgate-Palmolive in a report on Thursday, September 8th. They set a “sector weight” rating for the company. Finally, Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a report on Friday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.04.
In related news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $72.39, for a total transaction of $277,543.26. Following the sale, the insider now owns 55,013 shares in the company, valued at $3,982,391.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.05% of the company’s stock.
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.