IBM Retirement Fund trimmed its holdings in shares of Colgate-Palmolive (NYSE: CL – Get Rating) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,294 shares of the company stock after selling 578 shares during the period. IBM Retirement Fund’s holdings in Colgate-Palmolive were worth $ 1,008,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of CL. Horan Securities Inc. acquired a new position in Colgate-Palmolive during the fourth quarter valued at $ 30,000. Fortis Advisors LLC acquired a new position in Colgate-Palmolive in the 3rd quarter worth about $ 38,000. US Asset Management LLC acquired a new position in Colgate-Palmolive in the 1st quarter worth about $ 39,000. TAP Consulting LLC acquired a new position in Colgate-Palmolive in the 4th quarter worth about $ 40,000. Finally, Widmann Financial Services Inc. acquired a new position in Colgate-Palmolive in the 4th quarter worth about $ 42,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $ 79.34, for a total value of $ 3,967,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,790 shares of the company stock, valued at approximately $ 17,596,818.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Philip G. Shotts sold 10,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $ 78.52, for a total value of $ 785,200.00. Following the completion of the transaction, the vice president now directly owns 46,094 shares of the company stock, valued at $ 3,619,300.88. The disclosure for this sale can be found here. Insiders sold a total of 79,683 shares of company stock valued at $ 6,297,119 in the last quarter. Corporate insiders own 0.32% of the company stock.
Several research analysts have weighed in on CL shares. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $ 90.00 to $ 88.00 in a research report on Wednesday, April 13th. Barclays decreased their price target on Colgate-Palmolive from $ 77.00 to $ 71.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Raymond James initiated coverage on Colgate-Palmolive in a research note on Thursday, April 7th. They set a “market perform” rating for the company. Atlantic Securities downgraded Colgate-Palmolive from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $ 92.00 to $ 80.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $ 83.92.
Shares of CL stock opened at $ 80.38 on Friday. The stock has a 50 day moving average of $ 77.78 and a two-hundred day moving average of $ 79.12. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42. Colgate-Palmolive has a 12 month low of $ 72.20 and a 12 month high of $ 85.61. The company has a market capitalization of $ 67.35 billion, a P / E ratio of 33.21, a P / E / G ratio of 5.33 and a beta of 0.56.
Colgate-Palmolive (NYSE: CL – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $ 0.74 EPS for the quarter, hitting analysts’ consensus estimates of $ 0.74. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The company had revenue of $ 4.40 billion during the quarter, compared to the estimate consensus of $ 4.40 billion. During the same quarter last year, the company earned $ 0.80 EPS. The company quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 3.05 earnings per share for the current fiscal year.
Colgate-Palmolive announced that its board has authorized a share buyback plan on Thursday, March 10th that allows the company to buyback $ 5.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 21st will be given a $ 0.47 dividend. The ex-dividend date is Wednesday, July 20th. This represents a $ 1.88 dividend on an annualized basis and a dividend yield of 2.34%. Colgate-Palmolive’s dividend payout ratio is currently 77.69%.
Colgate-Palmolive Profile: (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.
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