Baldwin Investment Management LLC Has $656,000 Stake in Colgate-Palmolive Company (CL)
Baldwin Investment Management LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,855 shares of the company’s stock after selling 700 shares during the period. Baldwin Investment Management LLC’s holdings in Colgate-Palmolive were worth $656,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of CL. Waldron LP purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $238,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Colgate-Palmolive by 5.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 12,742 shares of the company’s stock valued at $933,000 after buying an additional 698 shares in the last quarter. Swiss National Bank lifted its position in shares of Colgate-Palmolive by 22.2% during the 1st quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares in the last quarter. World Asset Management Inc lifted its position in shares of Colgate-Palmolive by 10.4% during the 1st quarter. World Asset Management Inc now owns 96,563 shares of the company’s stock valued at $7,067,000 after buying an additional 9,081 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $732,000. 73.45% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. Colgate-Palmolive’s payout ratio is currently 61.78%.
CL has been the topic of several recent analyst reports. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $75.00 to $84.00 in a research note on Monday, September 25th. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC lifted their target price on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, July 6th. BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $76.73.
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In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the transaction, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 88,598 shares of the company’s stock, valued at approximately $6,322,353.28. The disclosure for this sale can be found here. Insiders have sold 52,833 shares of company stock valued at $3,776,108 in the last three months. Insiders own 1.02% of the company’s stock.
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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