Municipal Employees Retirement System of Michigan decreased its position in Colgate-Palmolive (NYSE:CL) by 40.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,750 shares of the company’s stock after selling 15,350 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Colgate-Palmolive were worth $1,716,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CL. Beach Investment Management LLC. purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $3,954,000. Captrust Financial Advisors purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $122,000. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Colgate-Palmolive by 0.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,642 shares of the company’s stock valued at $419,000 after buying an additional 34 shares during the last quarter. Courier Capital LLC boosted its stake in shares of Colgate-Palmolive by 3.7% during the 2nd quarter. Courier Capital LLC now owns 18,209 shares of the company’s stock valued at $1,350,000 after buying an additional 653 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in shares of Colgate-Palmolive by 1.6% during the 2nd quarter. KCM Investment Advisors LLC now owns 134,265 shares of the company’s stock valued at $9,953,000 after buying an additional 2,144 shares during the last quarter. 73.87% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Monday, January 8th. Macquarie upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective on the stock in a research note on Tuesday, December 19th. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Citigroup raised their price objective on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, Deutsche Bank assumed coverage on Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $77.71.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 26th. The company reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts anticipate that Colgate-Palmolive will post 3.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.41%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 70.18%.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 5,651 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.18, for a total value of $396,587.18. Following the sale, the chief financial officer now directly owns 413,221 shares of the company’s stock, valued at $28,999,849.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Daniels sold 902 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the sale, the insider now directly owns 37,788 shares in the company, valued at $2,865,086.16. The disclosure for this sale can be found here. Insiders sold 455,707 shares of company stock worth $32,443,427 over the last ninety days. 1.02% of the stock is owned by corporate insiders.
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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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