Arvest Bank Trust Division lowered its position in Colgate-Palmolive (NYSE:CL) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,509 shares of the company’s stock after selling 3,550 shares during the quarter. Arvest Bank Trust Division’s holdings in Colgate-Palmolive were worth $15,299,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Colgate-Palmolive by 11.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after purchasing an additional 3,397,667 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Colgate-Palmolive by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after purchasing an additional 1,596,825 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Colgate-Palmolive by 6.4% during the second quarter. OppenheimerFunds Inc. now owns 6,785,987 shares of the company’s stock worth $439,801,000 after purchasing an additional 405,430 shares in the last quarter. Fiera Capital Corp raised its holdings in Colgate-Palmolive by 4.6% during the second quarter. Fiera Capital Corp now owns 5,012,573 shares of the company’s stock worth $324,865,000 after purchasing an additional 219,925 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Colgate-Palmolive by 15.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,093,312 shares of the company’s stock worth $265,288,000 after purchasing an additional 543,500 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.
Shares of Colgate-Palmolive stock opened at $60.19 on Wednesday. The firm has a market capitalization of $51.70 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $77.91. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.28 and a current ratio of 0.40.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.79%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
A number of analysts have weighed in on CL shares. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday. Macquarie cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $74.00 to $65.00 in a report on Monday, July 30th. Argus reaffirmed a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Citigroup cut their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a report on Monday. Finally, Wells Fargo & Co cut their target price on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.06.
In other Colgate-Palmolive news, Vice Chairman Franck J. Moison sold 45,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $66.25, for a total value of $2,981,250.00. Following the transaction, the insider now directly owns 222,414 shares of the company’s stock, valued at approximately $14,734,927.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the transaction, the chief financial officer now directly owns 36,193 shares in the company, valued at $2,426,740.65. The disclosure for this sale can be found here. Insiders sold a total of 304,654 shares of company stock worth $20,090,369 over the last three months. 1.02% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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