Cypress Capital Group lowered its position in Colgate-Palmolive Company (NYSE:CL) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,051 shares of the company’s stock after selling 282 shares during the period. Cypress Capital Group’s holdings in Colgate-Palmolive were worth $3,371,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after buying an additional 169,798 shares in the last quarter. First Eagle Investment Management LLC increased its position in Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock worth $350,015,000 after buying an additional 122,983 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares in the last quarter. Legal & General Group Plc increased its position in Colgate-Palmolive by 5.1% in the first quarter. Legal & General Group Plc now owns 4,293,890 shares of the company’s stock worth $314,276,000 after buying an additional 208,905 shares in the last quarter. Finally, Swiss National Bank increased its position in Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after buying an additional 666,400 shares in the last quarter. 73.85% of the stock is currently owned by institutional investors.
Colgate-Palmolive Company (CL) traded down 0.41% during mid-day trading on Friday, reaching $71.26. The company had a trading volume of 2,023,502 shares. The stock has a market capitalization of $62.77 billion, a price-to-earnings ratio of 26.48 and a beta of 0.80. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The company’s 50 day moving average is $72.84 and its 200 day moving average is $72.74.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s payout ratio is currently 59.48%.
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A number of research analysts have commented on CL shares. Bank of America Corporation increased their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a research report on Tuesday, April 18th. They set a “hold” rating and a $78.00 price target on the stock. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $75.82.
In other news, Vice Chairman Franck J. Moison sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.52, for a total value of $2,503,200.00. Following the transaction, the insider now directly owns 201,411 shares of the company’s stock, valued at approximately $14,404,914.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the completion of the transaction, the insider now directly owns 53,022 shares in the company, valued at $4,012,174.74. The disclosure for this sale can be found here. Insiders sold a total of 203,969 shares of company stock worth $14,711,068 over the last three months. 1.02% of the stock is owned by company insiders.
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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