Cigna Investments Inc. New lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 3.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,796 shares of the company’s stock after buying an additional 1,450 shares during the period. Cigna Investments Inc. New’s holdings in Colgate-Palmolive were worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Quarterback LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $19,416,210,000. State Street Corp increased its holdings in shares of Colgate-Palmolive by 0.4% during the 4th quarter. State Street Corp now owns 56,249,456 shares of the company’s stock worth $3,872,213,000 after buying an additional 210,742 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Colgate-Palmolive by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,597,340 shares of the company’s stock worth $1,234,119,000 after buying an additional 356,819 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,800,420 shares of the company’s stock worth $948,528,000 after buying an additional 140,524 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Colgate-Palmolive by 4.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,286,968 shares of the company’s stock valued at $776,995,000 after purchasing an additional 441,957 shares during the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.
In other news, VP Philip G. Shotts sold 666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.61, for a total value of $50,356.26. Following the completion of the sale, the vice president now directly owns 41,158 shares of the company’s stock, valued at $3,111,956.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel B. Marsili sold 4,030 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.45, for a total transaction of $304,063.50. Following the completion of the sale, the insider now directly owns 51,788 shares of the company’s stock, valued at $3,907,404.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,132 shares of company stock valued at $5,774,879. 0.78% of the stock is owned by corporate insiders.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Colgate-Palmolive had a net margin of 15.86% and a return on equity of 942.99%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. As a group, research analysts forecast that Colgate-Palmolive will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a $0.44 dividend. The ex-dividend date was Friday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 2.49%. Colgate-Palmolive’s payout ratio is 62.19%.
Several research firms recently weighed in on CL. SunTrust Banks lifted their target price on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 15th. Bank of America upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Friday, March 20th. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Credit Suisse Group reiterated a “sell” rating and issued a $67.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Royal Bank of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $69.00 to $91.00 in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $75.60.
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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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