Pictet & Cie Europe SA lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,600 shares of the company’s stock after acquiring an additional 2,600 shares during the period. Colgate-Palmolive makes up approximately 1.2% of Pictet & Cie Europe SA’s portfolio, making the stock its 24th largest position. Pictet & Cie Europe SA’s holdings in Colgate-Palmolive were worth $8,644,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Meadow Creek Investment Management LLC boosted its stake in shares of Colgate-Palmolive by 3.6% during the 1st quarter. Meadow Creek Investment Management LLC now owns 166,782 shares of the company’s stock worth $12,207,000 after acquiring an additional 5,720 shares during the last quarter. Ropes Wealth Advisors LLC lifted its stake in shares of Colgate-Palmolive by 0.9% during the 1st quarter. Ropes Wealth Advisors LLC now owns 21,661 shares of the company’s stock valued at $1,585,000 after buying an additional 189 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 0.7% during the 1st quarter. Connecticut Wealth Management LLC now owns 5,424 shares of the company’s stock valued at $398,000 after buying an additional 39 shares in the last quarter. HGK Asset Management Inc. purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at $7,287,000. Finally, Haverford Trust Co. lifted its stake in shares of Colgate-Palmolive by 1.4% during the 1st quarter. Haverford Trust Co. now owns 58,857 shares of the company’s stock valued at $4,308,000 after buying an additional 841 shares in the last quarter. 73.87% of the stock is owned by institutional investors.
In related news, Director Stephen I. Sadove sold 20,780 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the sale, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the sale, the chief operating officer now owns 262,361 shares in the company, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Insiders sold 164,673 shares of company stock worth $11,968,603 in the last quarter. Company insiders own 1.02% of the company’s stock.
WARNING: This story was published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.truebluetribune.com/2017/11/14/colgate-palmolive-company-cl-shares-bought-by-pictet-cie-europe-sa.html.
A number of research analysts recently weighed in on CL shares. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday, October 23rd. Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. SunTrust Banks, Inc. upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.67.
Shares of Colgate-Palmolive Company (CL) opened at $73.70 on Tuesday. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The company has a market cap of $64,286.08, a P/E ratio of 25.51, a P/E/G ratio of 3.35 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 EPS. equities analysts forecast that Colgate-Palmolive Company will post 2.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. Colgate-Palmolive’s payout ratio is currently 61.78%.
Colgate-Palmolive Company Profile
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.
Receive News & Ratings for Colgate-Palmolive Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Company and related companies with MarketBeat.com's FREE daily email newsletter.