Nachman Norwood & Parrott Inc increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,101 shares of the company’s stock after acquiring an additional 209 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Colgate-Palmolive were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CL. Ffcm LLC boosted its stake in shares of Colgate-Palmolive by 5.6% in the fourth quarter. Ffcm LLC now owns 63,206 shares of the company’s stock worth $3,762,000 after acquiring an additional 3,325 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $7,765,000. ST Germain D J Co. Inc. boosted its stake in shares of Colgate-Palmolive by 14.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 16,530 shares of the company’s stock worth $984,000 after acquiring an additional 2,065 shares during the last quarter. Psagot Investment House Ltd. boosted its stake in shares of Colgate-Palmolive by 38.9% in the fourth quarter. Psagot Investment House Ltd. now owns 4,073 shares of the company’s stock worth $242,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its stake in shares of Colgate-Palmolive by 7.0% in the fourth quarter. Joel Isaacson & Co. LLC now owns 12,786 shares of the company’s stock worth $794,000 after acquiring an additional 832 shares during the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP John J. Huston sold 36,878 shares of Colgate-Palmolive stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.85, for a total value of $2,649,684.30. Following the completion of the sale, the senior vice president now directly owns 110,611 shares of the company’s stock, valued at $7,947,400.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Noel R. Wallace sold 84,351 shares of Colgate-Palmolive stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.89, for a total value of $6,063,993.39. Following the completion of the sale, the chief executive officer now directly owns 279,023 shares of the company’s stock, valued at $20,058,963.47. The disclosure for this sale can be found here. Insiders sold 246,149 shares of company stock worth $17,203,908 in the last 90 days. Company insiders own 1.14% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s payout ratio is currently 57.91%.
A number of analysts have recently issued reports on CL shares. Goldman Sachs Group raised Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. BNP Paribas raised Colgate-Palmolive from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $56.00 to $67.00 in a research note on Monday, February 11th. Jefferies Financial Group reiterated a “hold” rating and set a $61.00 price objective on shares of Colgate-Palmolive in a research report on Friday, February 1st. Evercore ISI started coverage on Colgate-Palmolive in a research report on Thursday, January 10th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley set a $62.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $69.81.
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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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