Paragon Capital Management LLC increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 25.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 842 shares of the company’s stock after acquiring an additional 170 shares during the period. Paragon Capital Management LLC’s holdings in Colgate-Palmolive were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Achmea Investment Management B.V. lifted its stake in Colgate-Palmolive by 47.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 28,945 shares of the company’s stock worth $2,075,000 after acquiring an additional 9,325 shares in the last quarter. Guyasuta Investment Advisors Inc. raised its stake in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 286,202 shares of the company’s stock worth $20,512,000 after purchasing an additional 6,624 shares in the last quarter. Enlightenment Research LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth about $680,000. Great Lakes Advisors LLC raised its stake in shares of Colgate-Palmolive by 3.0% during the 2nd quarter. Great Lakes Advisors LLC now owns 68,634 shares of the company’s stock worth $4,918,000 after purchasing an additional 1,983 shares in the last quarter. Finally, Homrich & Berg raised its stake in shares of Colgate-Palmolive by 12.3% during the 2nd quarter. Homrich & Berg now owns 19,474 shares of the company’s stock worth $1,396,000 after purchasing an additional 2,128 shares in the last quarter. Hedge funds and other institutional investors own 75.83% of the company’s stock.
CL traded up $0.15 during midday trading on Friday, reaching $73.19. The company’s stock had a trading volume of 158,364 shares, compared to its average volume of 3,737,061. The stock has a market cap of $62.24 billion, a P/E ratio of 24.66, a PEG ratio of 4.67 and a beta of 0.76. The company has a fifty day simple moving average of $72.58 and a 200 day simple moving average of $70.07. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Sell-side analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.91%.
A number of equities research analysts have recently weighed in on the company. Argus raised their price target on Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley raised their price target on Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank raised their price target on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Citigroup raised their price target on Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.87.
In related news, insider Patricia Verduin sold 44,572 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.01, for a total transaction of $3,165,057.72. Following the completion of the transaction, the insider now owns 93,296 shares in the company, valued at approximately $6,624,948.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $71.21, for a total value of $1,388,595.00. Following the transaction, the insider now owns 1,107,742 shares of the company’s stock, valued at approximately $78,882,307.82. The disclosure for this sale can be found here. Insiders sold a total of 564,285 shares of company stock worth $40,530,290 in the last ninety days. Insiders own 1.14% of the company’s stock.
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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