Carnick & Kubik Group LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,150 shares of the company’s stock after acquiring an additional 1,155 shares during the period. Colgate-Palmolive comprises approximately 1.8% of Carnick & Kubik Group LLC’s portfolio, making the stock its 17th biggest holding. Carnick & Kubik Group LLC’s holdings in Colgate-Palmolive were worth $1,568,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wetherby Asset Management Inc. grew its position in Colgate-Palmolive by 2.5% during the second quarter. Wetherby Asset Management Inc. now owns 19,371 shares of the company’s stock valued at $1,436,000 after acquiring an additional 469 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Colgate-Palmolive by 9.4% during the second quarter. Canada Pension Plan Investment Board now owns 1,914,823 shares of the company’s stock valued at $141,946,000 after acquiring an additional 164,576 shares during the last quarter. Trexquant Investment LP bought a new position in Colgate-Palmolive during the second quarter valued at approximately $623,000. Summit Financial Group Inc. bought a new position in Colgate-Palmolive during the second quarter valued at approximately $1,206,000. Finally, Legacy Capital Partners Inc. grew its position in Colgate-Palmolive by 1.9% during the second quarter. Legacy Capital Partners Inc. now owns 56,640 shares of the company’s stock valued at $4,199,000 after acquiring an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
A number of brokerages have commented on CL. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BidaskClub cut shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research report on Thursday, August 24th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $76.31.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total value of $999,040.00. Following the transaction, the senior vice president now owns 88,598 shares of the company’s stock, valued at approximately $6,322,353.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis J. Hickey sold 73,872 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the completion of the transaction, the chief financial officer now directly owns 484,985 shares in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock worth $15,693,933 in the last ninety days. 1.02% of the stock is currently owned by corporate insiders.
Shares of Colgate-Palmolive Company (CL) opened at 72.90 on Wednesday. The stock has a market cap of $64.21 billion, a price-to-earnings ratio of 27.09 and a beta of 0.81. The company has a 50-day moving average price of $72.06 and a 200-day moving average price of $73.15. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The company 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. Equities analysts anticipate that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
Colgate-Palmolive Company Profile
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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