Ellis Investment Partners LLC purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 157,642 shares of the company’s stock, valued at approximately $157,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CL. Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter valued at $488,436,000. BlackRock Inc. increased its stake in Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock valued at $3,609,804,000 after buying an additional 7,236,342 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Colgate-Palmolive by 5,779.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,625,533 shares of the company’s stock valued at $95,000 after buying an additional 5,529,852 shares during the period. Ceredex Value Advisors LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Colgate-Palmolive by 405.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,283,928 shares of the company’s stock valued at $76,419,000 after buying an additional 1,029,873 shares during the period. 76.04% of the stock is currently owned by institutional investors.
In related news, insider Jennifer Daniels sold 3,498 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $232,232.22. Following the sale, the insider now directly owns 38,824 shares in the company, valued at approximately $2,577,525.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ian M. Cook sold 22,634 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.31, for a total transaction of $1,500,860.54. Following the completion of the sale, the chief executive officer now owns 1,162,793 shares in the company, valued at $77,104,803.83. The disclosure for this sale can be found here. Insiders sold a total of 116,920 shares of company stock worth $7,917,830 over the last quarter. Insiders own 1.14% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.39%. Colgate-Palmolive’s dividend payout ratio is 57.91%.
Several equities analysts have issued reports on CL shares. Goldman Sachs Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Evercore ISI began coverage on shares of Colgate-Palmolive in a research note on Thursday, January 10th. They set an “outperform” rating and a $70.00 price target on the stock. Wells Fargo & Co reaffirmed a “hold” rating and set a $57.00 price target on shares of Colgate-Palmolive in a research note on Friday, January 25th. Finally, Morgan Stanley set a $62.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average target price of $69.81.
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.
Featured Article: How do candlesticks reflect price movement?
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.