Glovista Investments LLC Has $1.17 Million Holdings in Colgate-Palmolive (NYSE:CL)
Glovista Investments LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 78.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,694 shares of the company’s stock after acquiring an additional 7,794 shares during the period. Glovista Investments LLC’s holdings in Colgate-Palmolive were worth $1,174,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisory Alpha LLC bought a new stake in Colgate-Palmolive during the first quarter worth $26,000. Pacifica Partners Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $36,000. West Bancorporation Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $38,000. Keebeck Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $39,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $40,000. 75.67% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on CL shares. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. SunTrust Banks raised their target price on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Bank of America raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Friday, March 20th. Credit Suisse Group reissued a “sell” rating and set a $67.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Stifel Nicolaus increased their target price on Colgate-Palmolive from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.60.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. Colgate-Palmolive had a net margin of 15.86% and a return on equity of 942.99%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive will post 2.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.76 annualized dividend and a yield of 2.45%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.43. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 62.19%.
In other Colgate-Palmolive news, insider Daniel B. Marsili sold 1,092 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $69.44, for a total value of $75,828.48. Following the completion of the sale, the insider now directly owns 47,115 shares in the company, valued at $3,271,665.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Polk sold 3,115 shares of Colgate-Palmolive stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $68.08, for a total transaction of $212,069.20. Following the completion of the sale, the director now directly owns 20,622 shares of the company’s stock, valued at $1,403,945.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,957 shares of company stock valued at $1,456,558. 0.78% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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