Abbrea Capital LLC boosted its position in Colgate-Palmolive (NYSE:CL) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,125 shares of the company’s stock after buying an additional 377 shares during the period. Abbrea Capital LLC’s holdings in Colgate-Palmolive were worth $1,448,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc boosted its position in Colgate-Palmolive by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after purchasing an additional 734,860 shares in the last quarter. BlackRock Inc. boosted its position in Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after purchasing an additional 7,236,342 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Colgate-Palmolive by 3.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock worth $1,935,674,000 after purchasing an additional 1,000,161 shares in the last quarter. Northern Trust Corp boosted its position in Colgate-Palmolive by 3.0% in the 4th quarter. Northern Trust Corp now owns 10,760,664 shares of the company’s stock worth $640,475,000 after purchasing an additional 309,387 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Colgate-Palmolive by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after purchasing an additional 768,550 shares in the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.
In related news, Director Stephen I. Sadove sold 8,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $71.55, for a total value of $572,400.00. Following the completion of the transaction, the director now directly owns 39,441 shares of the company’s stock, valued at approximately $2,822,003.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ian M. Cook sold 16,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.72, for a total value of $1,067,520.00. Following the completion of the transaction, the chief executive officer now directly owns 1,146,793 shares of the company’s stock, valued at $76,514,028.96. The disclosure for this sale can be found here. Insiders have sold a total of 335,211 shares of company stock worth $23,724,495 in the last quarter. Insiders own 1.14% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts expect that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a dividend of $0.43 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, April 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.40%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.
Several equities research analysts have commented on CL shares. UBS Group upped their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Wednesday, May 1st. ValuEngine upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Morgan Stanley upped their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, Macquarie set a $57.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $69.69.
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Colgate-Palmolive Company Profile
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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