Carnegie Capital Asset Management LLC increased its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 30,909 shares of the company’s stock after buying an additional 506 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Colgate-Palmolive were worth $2,269,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Tompkins Financial Corp boosted its stake in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock worth $124,000 after buying an additional 930 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock worth $132,000 after buying an additional 400 shares during the last quarter. FCM Investments TX purchased a new stake in Colgate-Palmolive during the second quarter worth approximately $132,000. Orrstown Financial Services Inc. boosted its stake in Colgate-Palmolive by 26.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,280 shares of the company’s stock worth $167,000 after buying an additional 480 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Colgate-Palmolive during the second quarter worth approximately $198,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.85% during mid-day trading on Friday, hitting $71.17. The company had a trading volume of 3,295,140 shares. Colgate-Palmolive Co. has a 12 month low of $61.40 and a 12 month high of $75.38. The firm has a 50-day moving average of $72.33 and a 200-day moving average of $72.56. The company has a market cap of $63.26 billion, a PE ratio of 46.55 and a beta of 0.63.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 6,924.14% and a net margin of 8.96%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.19%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 101.96%.
CL has been the topic of several recent analyst reports. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and set a $75.00 price objective (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. B. Riley reiterated a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a research report on Friday, July 29th. BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research report on Friday, July 29th. Finally, Citigroup Inc. boosted their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.18.
In other news, COO Noel R. Wallace sold 78,849 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $74.69, for a total value of $5,889,231.81. Following the sale, the chief operating officer now directly owns 236,295 shares in the company, valued at $17,648,873.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen I. Sadove sold 8,803 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $74.28, for a total value of $653,886.84. Following the completion of the sale, the director now owns 26,474 shares in the company, valued at $1,966,488.72. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
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.