Meeder Asset Management Inc. Increases Holdings in Colgate-Palmolive (CL)
Meeder Asset Management Inc. boosted its position in Colgate-Palmolive (NYSE:CL) by 2,475.1% during the 4th quarter, Holdings Channel reports. The firm owned 60,385 shares of the company’s stock after purchasing an additional 58,040 shares during the period. Meeder Asset Management Inc.’s holdings in Colgate-Palmolive were worth $4,556,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in CL. Beach Investment Management LLC. purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at about $3,954,000. Pitcairn Co. lifted its position in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. Pitcairn Co. now owns 6,253 shares of the company’s stock valued at $464,000 after buying an additional 67 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Colgate-Palmolive by 2.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 185,418 shares of the company’s stock valued at $13,745,000 after purchasing an additional 4,721 shares during the period. Pinnacle Financial Partners Inc. raised its stake in Colgate-Palmolive by 348.4% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 30,342 shares of the company’s stock valued at $2,249,000 after purchasing an additional 23,575 shares during the period. Finally, Rational Advisors LLC raised its stake in Colgate-Palmolive by 180.9% during the 2nd quarter. Rational Advisors LLC now owns 7,608 shares of the company’s stock valued at $564,000 after purchasing an additional 4,900 shares during the period. 72.85% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ellen M. Hancock sold 4,676 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $74.12, for a total transaction of $346,585.12. Following the completion of the transaction, the director now owns 208,063 shares in the company, valued at approximately $15,421,629.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Daniels sold 902 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the transaction, the insider now owns 37,788 shares of the company’s stock, valued at approximately $2,865,086.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,451 shares of company stock worth $23,534,707. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 26th. The company reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. analysts forecast that Colgate-Palmolive will post 3.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is currently 70.18%.
Several brokerages recently issued reports on CL. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price on the stock in a research note on Tuesday, December 19th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Finally, Citigroup lifted their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $77.71.
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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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