Colgate-Palmolive Company (CL) Stake Lowered by Dubuque Bank & Trust Co.
Dubuque Bank & Trust Co. reduced its position in Colgate-Palmolive Company (NYSE:CL) by 60.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,411 shares of the company’s stock after selling 3,685 shares during the period. Dubuque Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $178,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of CL. TIAA CREF Investment Management LLC raised its position in shares of Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the period. Swiss National Bank raised its position in shares of Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after buying an additional 666,400 shares during the period. Karp Capital Management Corp raised its position in shares of Colgate-Palmolive by 3,749.4% in the first quarter. Karp Capital Management Corp now owns 381,210 shares of the company’s stock worth $27,901,000 after buying an additional 371,307 shares during the period. Teachers Advisors LLC raised its position in shares of Colgate-Palmolive by 25.4% in the first quarter. Teachers Advisors LLC now owns 1,814,250 shares of the company’s stock worth $132,785,000 after buying an additional 367,977 shares during the period. Finally, Scopus Asset Management L.P. purchased a new position in shares of Colgate-Palmolive during the first quarter worth about $25,617,000. 73.85% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (NYSE CL) traded down 0.41% during trading on Friday, hitting $71.26. The company’s stock had a trading volume of 2,023,502 shares. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The firm has a market cap of $62.77 billion, a PE ratio of 26.48 and a beta of 0.80. The company has a 50-day moving average of $72.84 and a 200 day moving average of $72.74.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.48%.
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CL has been the subject of a number of research analyst reports. Bank of America Corporation raised their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, July 4th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a research note on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price for the company. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $75.82.
In related news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the completion of the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.52, for a total transaction of $2,503,200.00. Following the transaction, the insider now directly owns 201,411 shares of the company’s stock, valued at $14,404,914.72. The disclosure for this sale can be found here. Insiders have sold 203,969 shares of company stock valued at $14,711,068 over the last three months. 1.02% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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