Cape Cod Five Cents Savings Bank decreased its position in Colgate-Palmolive (NYSE:CL – Get Rating) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,180 shares of the company’s stock after selling 575 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in Colgate-Palmolive were worth $954,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Colgate-Palmolive by 10.0% in the third quarter. Wellington Management Group LLP now owns 33,925,902 shares of the company’s stock valued at $2,564,120,000 after purchasing an additional 3,077,946 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,635,400 shares of the company’s stock worth $1,103,685,000 after buying an additional 308,383 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Colgate-Palmolive by 21.4% in the 4th quarter. California Public Employees Retirement System now owns 6,037,320 shares of the company’s stock valued at $515,225,000 after acquiring an additional 1,064,282 shares in the last quarter. FIL Ltd increased its position in shares of Colgate-Palmolive by 18.3% in the third quarter. FIL Ltd now owns 5,799,326 shares of the company’s stock valued at $438,313,000 after acquiring an additional 898,413 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Colgate-Palmolive by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,092,683 shares of the company’s stock worth $384,905,000 after acquiring an additional 274,924 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.
Several equities research analysts have recently commented on the company. Sanford C. Bernstein raised Colgate-Palmolive from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $77.00 to $83.00 in a report on Wednesday, February 2nd. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $90.00 to $91.00 and gave the company an “equal weight” rating in a report on Monday, January 31st. Atlantic Securities lowered Colgate-Palmolive from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $80.00 in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group reduced their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.56.
Colgate-Palmolive (NYSE:CL – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. Colgate-Palmolive’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive will post 3.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Thursday, April 21st will be given a dividend of $0.47 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 20th. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 77.69%.
Colgate-Palmolive declared that its board has initiated a share buyback program on Thursday, March 10th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other Colgate-Palmolive news, Director John P. Bilbrey sold 4,917 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $78.66, for a total value of $386,771.22. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.
About Colgate-Palmolive (Get Rating)
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. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.
- Get a free copy of the StockNews.com research report on Colgate-Palmolive (CL)
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