Bank of New York Mellon Corp Has $1.34 Billion Stake in Colgate-Palmolive Company (CL)
Bank of New York Mellon Corp reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,053,909 shares of the company’s stock after selling 767,454 shares during the period. Bank of New York Mellon Corp owned approximately 2.05% of Colgate-Palmolive worth $1,338,335,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CL. TIAA CREF Investment Management LLC boosted its holdings 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 acquiring an additional 2,082,262 shares during the period. Swiss National Bank boosted its holdings 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 acquiring an additional 666,400 shares during the period. British Airways Pensions Investment Management Ltd bought a new position in shares of Colgate-Palmolive in the second quarter worth $34,347,000. Pioneer Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 27.8% in the second quarter. Pioneer Investment Management Inc. now owns 2,061,196 shares of the company’s stock worth $152,796,000 after acquiring an additional 447,949 shares during the period. Finally, Karp Capital Management Corp boosted its holdings 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 acquiring an additional 371,307 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive Company (CL) opened at 74.96 on Wednesday. The firm’s 50-day moving average price is $72.45 and its 200-day moving average price is $73.19. The stock has a market cap of $66.03 billion, a P/E ratio of 27.86 and a beta of 0.81. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS. Equities analysts predict that Colgate-Palmolive Company will post $2.90 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 59.48%.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the sale, the senior vice president now owns 88,598 shares in the company, valued at approximately $6,322,353.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the sale, the chief financial officer now owns 484,985 shares in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,136 shares of company stock worth $15,416,385. Corporate insiders own 1.02% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday. Macquarie assumed coverage on Colgate-Palmolive in a research report on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price objective on the stock. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $76.85.
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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