Colgate-Palmolive Company (CL) Shares Sold by Front Street Capital Management Inc.
Front Street Capital Management Inc. decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,786 shares of the company’s stock after selling 800 shares during the quarter. Front Street Capital Management Inc.’s holdings in Colgate-Palmolive were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in CL. Waldron LP purchased a new stake in Colgate-Palmolive in the first quarter worth $238,000. Benjamin F. Edwards & Company Inc. lifted its stake in Colgate-Palmolive by 5.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 12,742 shares of the company’s stock worth $933,000 after acquiring an additional 698 shares during the period. Swiss National Bank lifted its stake in 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. World Asset Management Inc lifted its stake in Colgate-Palmolive by 10.4% in the first quarter. World Asset Management Inc now owns 96,563 shares of the company’s stock worth $7,067,000 after acquiring an additional 9,081 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in Colgate-Palmolive in the first quarter worth $732,000. 73.45% of the stock is owned by institutional investors.
In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 53,173 shares in the company, valued at approximately $3,799,210.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.52, for a total value of $2,503,200.00. Following the sale, the insider now 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 a total of 52,833 shares of company stock valued at $3,776,108 over the last 90 days. 1.02% of the stock is currently owned by company insiders.
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A number of research firms have issued reports on CL. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $75.00 to $84.00 in a report on Monday, September 25th. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC increased their price objective on Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, July 6th. BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.73.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 61.78%.
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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