Winthrop Partners WNY LLC decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,500 shares of the company’s stock after selling 650 shares during the quarter. Winthrop Partners WNY LLC’s holdings in Colgate-Palmolive were worth $387,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CL. Bell Asset Management Ltd lifted its position in Colgate-Palmolive by 33.5% in the fourth quarter. Bell Asset Management Ltd now owns 149,093 shares of the company’s stock valued at $8,874,000 after buying an additional 37,409 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $332,000. R.H. Dinel Investment Counsel Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $2,192,000. Bridge Creek Capital Management LLC lifted its position in shares of Colgate-Palmolive by 2.3% during the fourth quarter. Bridge Creek Capital Management LLC now owns 60,758 shares of the company’s stock worth $3,616,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Nachman Norwood & Parrott Inc acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $648,000. 75.21% of the stock is owned by institutional investors and hedge funds.
In related news, Director John T. Cahill sold 5,780 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total transaction of $372,578.80. Following the completion of the sale, the director now directly owns 27,820 shares of the company’s stock, valued at $1,793,277.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive will post 2.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is presently 56.57%.
Several brokerages have recently issued reports on CL. Wells Fargo & Co cut their target price on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, October 29th. UBS Group restated a “neutral” rating on shares of Colgate-Palmolive in a research note on Wednesday. Citigroup cut their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Finally, Morgan Stanley set a $62.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $65.13.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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