Fulton Bank N.A. boosted its position in shares of Colgate-Palmolive (NYSE:CL – Free Report) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,368 shares of the company’s stock after purchasing an additional 670 shares during the period. Fulton Bank N.A.’s holdings in Colgate-Palmolive were worth $491,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CL. Tucker Asset Management LLC bought a new position in Colgate-Palmolive during the 1st quarter worth about $27,000. Register Financial Advisors LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $30,000. Kepos Capital LP bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $40,000. Carmel Capital Partners LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Colgate-Palmolive by 108.7% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 578 shares of the company’s stock valued at $43,000 after acquiring an additional 301 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CL. Deutsche Bank Aktiengesellschaft raised their price objective on Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, July 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of Colgate-Palmolive in a report on Monday, July 31st. Barclays raised their price objective on Colgate-Palmolive from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $85.33.
Colgate-Palmolive Trading Down 0.4 %
Shares of CL stock opened at $73.17 on Friday. Colgate-Palmolive has a 12-month low of $67.84 and a 12-month high of $82.09. The firm has a 50 day moving average price of $75.11 and a two-hundred day moving average price of $75.81. The company has a market capitalization of $60.49 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.10 and a beta of 0.50. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 28.43.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its earnings results on Friday, July 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Colgate-Palmolive had a net margin of 8.02% and a return on equity of 386.76%. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive will post 3.17 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, October 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.62%. Colgate-Palmolive’s payout ratio is presently 106.67%.
Insiders Place Their Bets
In other news, CEO Noel R. Wallace sold 48,627 shares of Colgate-Palmolive stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.37, for a total transaction of $3,567,762.99. Following the transaction, the chief executive officer now owns 246,969 shares in the company, valued at $18,120,115.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Noel R. Wallace sold 48,627 shares of Colgate-Palmolive stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.37, for a total transaction of $3,567,762.99. Following the transaction, the chief executive officer now owns 246,969 shares in the company, valued at $18,120,115.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Daniels sold 24,704 shares of Colgate-Palmolive stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.31, for a total transaction of $1,811,050.24. Following the transaction, the insider now owns 52,813 shares in the company, valued at approximately $3,871,721.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,501 shares of company stock valued at $7,838,332. 0.34% of the stock is currently owned by insiders.
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 offers 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 related items.
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