Synovus Financial Corp raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,668 shares of the company’s stock after buying an additional 1,826 shares during the quarter. Synovus Financial Corp’s holdings in Colgate-Palmolive were worth $5,439,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Colgate-Palmolive by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock valued at $1,499,000 after acquiring an additional 1,566 shares during the last quarter. Fiduciary Trust Co. boosted its position in shares of Colgate-Palmolive by 1.6% during the 2nd quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock valued at $12,663,000 after acquiring an additional 2,758 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Colgate-Palmolive by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock valued at $83,914,000 after acquiring an additional 105,878 shares during the last quarter. Pensionfund DSM Netherlands acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $4,225,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Colgate-Palmolive during the 2nd quarter valued at about $549,000. 72.86% of the stock is owned by institutional investors and hedge funds.
CL has been the topic of several recent research reports. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Monday, October 23rd. Deutsche Bank initiated coverage on shares of Colgate-Palmolive in a research report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price target on the stock. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $75.00 to $84.00 in a research report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Finally, Macquarie raised shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price target on the stock in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $76.45.
In other news, insider Jennifer Daniels sold 7,375 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $73.18, for a total transaction of $539,702.50. Following the sale, the insider now owns 38,691 shares of the company’s stock, valued at $2,831,407.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Justin Skala sold 126,393 shares of the stock in a transaction dated Thursday, November 9th. The stock was 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 directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Insiders have sold 181,950 shares of company stock worth $13,237,385 in the last three months. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) opened at $75.42 on Wednesday. Colgate-Palmolive has a 1 year low of $63.43 and a 1 year high of $77.27. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. The company has a market cap of $66,230.00, a PE ratio of 29.12, a price-to-earnings-growth ratio of 3.15 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. equities research analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, January 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. Colgate-Palmolive’s dividend payout ratio is presently 61.78%.
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.
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