Commerzbank Aktiengesellschaft FI boosted its holdings in Colgate-Palmolive (NYSE:CL) by 303.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,057 shares of the company’s stock after acquiring an additional 115,895 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Colgate-Palmolive were worth $11,325,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CL. Horizon Investments LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at $211,000. Krane Funds Advisors LLC bought a new position in Colgate-Palmolive in the 2nd quarter worth $25,000. Investec Asset Management North America Inc. raised its holdings in Colgate-Palmolive by 12.4% in the 2nd quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock worth $633,000 after purchasing an additional 972 shares during the period. Manning & Napier Group LLC raised its holdings in Colgate-Palmolive by 1.4% in the 2nd quarter. Manning & Napier Group LLC now owns 656,289 shares of the company’s stock worth $47,035,000 after purchasing an additional 9,351 shares during the period. Finally, Meadow Creek Investment Management LLC raised its holdings in Colgate-Palmolive by 93.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 45,100 shares of the company’s stock worth $3,232,000 after purchasing an additional 21,736 shares during the period. 76.09% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. UBS Group decreased their target price on Colgate-Palmolive from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Berenberg Bank assumed coverage on Colgate-Palmolive in a report on Wednesday, October 16th. They issued a “sell” rating and a $58.00 target price on the stock. Citigroup raised their target price on Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Co raised their target price on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Morgan Stanley set a $71.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $72.57.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Colgate-Palmolive’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 23rd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a yield of 2.58%. Colgate-Palmolive’s payout ratio is presently 57.91%.
In other news, CFO Henning I. Jakobsen sold 858 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.60, for a total transaction of $64,006.80. Following the completion of the transaction, the chief financial officer now owns 39,031 shares in the company, valued at $2,911,712.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ian M. Cook sold 17,750 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $68.30, for a total value of $1,212,325.00. Following the transaction, the chairman now owns 995,075 shares of the company’s stock, valued at approximately $67,963,622.50. The disclosure for this sale can be found here. Insiders sold a total of 193,361 shares of company stock valued at $13,722,098 in the last quarter. 1.14% of the stock is currently owned by company insiders.
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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