Cullinan Associates Inc. cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,729 shares of the company’s stock after selling 2,343 shares during the quarter. Cullinan Associates Inc.’s holdings in Colgate-Palmolive were worth $8,495,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Carroll Financial Associates Inc. grew its stake in Colgate-Palmolive by 11.8% in the 4th quarter. Carroll Financial Associates Inc. now owns 4,464 shares of the company’s stock valued at $267,000 after acquiring an additional 472 shares during the period. State of Alaska Department of Revenue grew its stake in Colgate-Palmolive by 4.9% in the 4th quarter. State of Alaska Department of Revenue now owns 273,690 shares of the company’s stock valued at $16,286,000 after acquiring an additional 12,805 shares during the period. Vision Capital Management Inc. grew its stake in Colgate-Palmolive by 2.1% in the 4th quarter. Vision Capital Management Inc. now owns 16,495 shares of the company’s stock valued at $982,000 after acquiring an additional 340 shares during the period. Deane Retirement Strategies Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $1,786,000. Finally, USS Investment Management Ltd acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $9,822,000. 74.54% of the stock is owned by institutional investors.
CL traded up $0.30 on Friday, hitting $62.12. 108,839 shares of the company’s stock were exchanged, compared to its average volume of 4,973,457. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $77.91. The stock has a market cap of $53.17 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 2.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Wednesday, January 23rd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.70%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.
CL has been the topic of a number of research analyst reports. Goldman Sachs Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. JPMorgan Chase & Co. cut shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $61.00 to $54.00 in a research note on Monday, October 29th. Finally, Wells Fargo & Co dropped their price target on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $67.87.
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.
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