Welch & Forbes LLC Has $7.45 Million Holdings in Colgate-Palmolive Company (CL)
Welch & Forbes LLC grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,463 shares of the company’s stock after buying an additional 1,433 shares during the quarter. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $7,448,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CL. TIAA CREF Investment Management LLC increased its stake in shares of Colgate-Palmolive by 84.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after purchasing an additional 2,082,262 shares during the last quarter. Swiss National Bank increased its stake in shares of Colgate-Palmolive by 22.2% during the 1st quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after purchasing an additional 666,400 shares during the last quarter. Karp Capital Management Corp increased its stake in shares of Colgate-Palmolive by 3,749.4% during the 1st quarter. Karp Capital Management Corp now owns 381,210 shares of the company’s stock worth $27,901,000 after purchasing an additional 371,307 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Colgate-Palmolive by 25.4% during the 1st quarter. Teachers Advisors LLC now owns 1,814,250 shares of the company’s stock worth $132,785,000 after purchasing an additional 367,977 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $25,617,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (CL) opened at 72.88 on Thursday. The firm has a market cap of $64.20 billion, a price-to-earnings ratio of 27.08 and a beta of 0.81. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The firm’s 50 day moving average is $71.91 and its 200-day moving average is $73.18.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Colgate-Palmolive’s payout ratio is 59.48%.
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CL has been the topic of several recent analyst reports. BidaskClub lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC boosted their price objective on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, July 6th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $76.31.
In other news, COO Justin Skala sold 74,374 shares of Colgate-Palmolive stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the transaction, the chief operating officer now owns 97,177 shares in the company, valued at $7,046,304.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $72.41, for a total transaction of $277,547.53. Following the completion of the transaction, the insider now owns 53,022 shares of the company’s stock, valued at approximately $3,839,323.02. The disclosure for this sale can be found here. Insiders sold 217,969 shares of company stock valued at $15,693,933 in the last quarter. Corporate insiders own 1.02% of the company’s stock.
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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