Meyer Handelman Co. reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 328,746 shares of the company’s stock after selling 8,050 shares during the period. Colgate-Palmolive makes up 1.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 29th largest position. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $22,632,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Julex Capital Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter worth about $27,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth about $31,000. Horan Capital Advisors LLC. acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $32,000. KCS Wealth Advisory acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $34,000. Finally, Evoke Wealth LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $37,000. 76.72% of the stock is owned by institutional investors.
CL stock traded down $0.25 during trading on Thursday, hitting $70.28. The stock had a trading volume of 807,363 shares, compared to its average volume of 3,178,307. Colgate-Palmolive has a twelve month low of $60.96 and a twelve month high of $76.41. The company’s 50-day moving average price is $69.05 and its two-hundred day moving average price is $70.30. The company has a debt-to-equity ratio of 43.94, a current ratio of 1.03 and a quick ratio of 0.70. The stock has a market capitalization of $60.78 billion, a P/E ratio of 26.03, a PEG ratio of 5.52 and a beta of 0.71.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, November 1st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 23rd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Wednesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
In related news, Chairman Ian M. Cook sold 17,750 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $68.30, for a total transaction of $1,212,325.00. Following the transaction, the chairman now directly owns 995,075 shares in the company, valued at $67,963,622.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ian M. Cook sold 16,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.70, for a total transaction of $1,067,200.00. Following the sale, the chairman now directly owns 1,099,361 shares of the company’s stock, valued at approximately $73,327,378.70. The disclosure for this sale can be found here. Insiders have sold 87,000 shares of company stock valued at $5,948,528 over the last quarter. 1.14% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on the company. Morgan Stanley set a $71.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, November 4th. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $78.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Bank of America downgraded Colgate-Palmolive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $74.00 in a research note on Thursday, December 19th. Finally, Deutsche Bank upped their target price on Colgate-Palmolive from $72.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $72.85.
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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