Smith Salley & Associates decreased its stake in shares of Colgate-Palmolive Co. (NYSE:CL) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 23,699 shares of the company’s stock after selling 568 shares during the period. Smith Salley & Associates’ holdings in Colgate-Palmolive were worth $1,735,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Wunderlich Capital Managemnt raised its stake in shares of Colgate-Palmolive by 0.8% in the first quarter. Wunderlich Capital Managemnt now owns 19,307 shares of the company’s stock worth $1,364,000 after buying an additional 161 shares during the last quarter. M&T Bank Corp raised its stake in shares of Colgate-Palmolive by 7.0% in the first quarter. M&T Bank Corp now owns 367,078 shares of the company’s stock worth $25,934,000 after buying an additional 24,096 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $2,190,000. East Coast Asset Management LLC. raised its stake in shares of Colgate-Palmolive by 5.7% in the first quarter. East Coast Asset Management LLC. now owns 86,964 shares of the company’s stock worth $6,144,000 after buying an additional 4,677 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Colgate-Palmolive by 1.1% in the first quarter. Canandaigua National Bank & Trust Co. now owns 15,180 shares of the company’s stock worth $1,072,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.39% during trading on Tuesday, reaching $72.36. 1,038,673 shares of the company were exchanged. The firm’s 50 day moving average is $73.08 and its 200 day moving average is $72.57. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38. The firm has a market capitalization of $64.51 billion, a P/E ratio of 46.59 and a beta of 0.63.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. Colgate-Palmolive’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive Co. will post $2.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.16%. Colgate-Palmolive’s payout ratio is 100.65%.
A number of equities research analysts have recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 29th. Citigroup Inc. lifted their target price on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Monday, October 3rd. KeyCorp initiated coverage on shares of Colgate-Palmolive in a research note on Thursday, September 8th. They issued a “sector weight” rating on the stock. Finally, BNP Paribas downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research note on Friday, July 29th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.68.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $74.93, for a total value of $1,049,020.00. Following the sale, the senior vice president now owns 102,761 shares in the company, valued at $7,699,881.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,834 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the sale, the insider now owns 55,013 shares in the company, valued at approximately $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is owned by company 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.