1ST Source Bank trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,751 shares of the company’s stock after selling 624 shares during the period. 1ST Source Bank’s holdings in Colgate-Palmolive were worth $501,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. American Beacon Advisors Inc. acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $102,000. Proficio Capital Partners LLC increased its stake in shares of Colgate-Palmolive by 16.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after acquiring an additional 207 shares during the last quarter. OLD Second National Bank of Aurora acquired a new position in shares of Colgate-Palmolive during the 2nd quarter valued at about $109,000. Harbour Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $121,000. Finally, AlphaMark Advisors LLC increased its stake in shares of Colgate-Palmolive by 452.1% during the 1st quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after acquiring an additional 1,370 shares during the last quarter. Institutional investors own 73.16% of the company’s stock.
Shares of Colgate-Palmolive Company (CL) opened at 71.82 on Monday. The company’s 50-day moving average is $71.66 and its 200-day moving average is $73.33. The firm has a market cap of $63.26 billion, a P/E ratio of 26.69 and a beta of 0.80. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
In related news, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total value of $5,304,009.60. Following the transaction, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen M. Hancock sold 5,057 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.91, for a total value of $363,648.87. Following the completion of the transaction, the director now directly owns 199,777 shares in the company, valued at $14,365,964.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,802 shares of company stock valued at $15,983,976. 1.02% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, August 24th. BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, May 25th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research note on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.82.
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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.
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