Murphy Capital Management Inc. cut its position in Colgate-Palmolive (NYSE:CL) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,210 shares of the company’s stock after selling 1,150 shares during the quarter. Murphy Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,821,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CL. BB&T Securities LLC lifted its position in Colgate-Palmolive by 20.0% in the 1st quarter. BB&T Securities LLC now owns 60,822 shares of the company’s stock valued at $4,359,000 after purchasing an additional 10,118 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Colgate-Palmolive by 25.9% during the 1st quarter. Baird Financial Group Inc. now owns 42,570 shares of the company’s stock worth $3,051,000 after buying an additional 8,745 shares in the last quarter. Green Square Capital LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $878,000. A.R.T. Advisors LLC raised its position in shares of Colgate-Palmolive by 72.9% during the 1st quarter. A.R.T. Advisors LLC now owns 12,100 shares of the company’s stock worth $867,000 after buying an additional 5,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Colgate-Palmolive by 1.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,022,286 shares of the company’s stock worth $73,277,000 after buying an additional 17,955 shares in the last quarter. Hedge funds and other institutional investors own 74.54% of the company’s stock.
A number of research firms have commented on CL. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 21st. Stifel Nicolaus dropped their price target on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, July 23rd. Citigroup dropped their price target on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 31st. Finally, Barclays set a $64.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.13.
Shares of CL traded down $0.23 during mid-day trading on Wednesday, hitting $64.84. The company’s stock had a trading volume of 434,597 shares, compared to its average volume of 3,934,513. The stock has a market capitalization of $58.10 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date is Thursday, October 18th. This represents a $1.68 annualized dividend and a dividend yield of 2.59%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback program on Monday, June 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares of the company’s stock, valued at approximately $2,426,740.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel B. Marsili sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $65.40, for a total transaction of $1,275,300.00. Following the completion of the transaction, the insider now directly owns 78,065 shares in the company, valued at approximately $5,105,451. The disclosure for this sale can be found here. Insiders sold a total of 415,279 shares of company stock worth $27,384,156 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
Further Reading: Earnings Per Share