Park Avenue Securities LLC Acquires New Position in Colgate-Palmolive Company (CL)
Park Avenue Securities LLC acquired a new position in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,315 shares of the company’s stock, valued at approximately $252,000.
A number of other large investors have also recently made changes to their positions in the stock. Waldron LP bought a new stake in Colgate-Palmolive during the 1st quarter valued at $238,000. ProShare Advisors LLC boosted its position in Colgate-Palmolive by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock valued at $64,382,000 after acquiring an additional 79,323 shares in the last quarter. Acadian Asset Management LLC boosted its position in Colgate-Palmolive by 3.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,865,179 shares of the company’s stock valued at $136,508,000 after acquiring an additional 70,734 shares in the last quarter. Headinvest LLC boosted its position in Colgate-Palmolive by 5.7% during the 1st quarter. Headinvest LLC now owns 5,382 shares of the company’s stock valued at $394,000 after acquiring an additional 292 shares in the last quarter. Finally, Meritage Portfolio Management boosted its position in Colgate-Palmolive by 0.3% during the 1st quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock valued at $7,017,000 after acquiring an additional 255 shares in the last quarter. 73.16% of the stock is currently owned by institutional investors.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the completion of the transaction, the senior vice president now owns 88,598 shares in the company, valued at $6,322,353.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the transaction, the insider now owns 53,173 shares of the company’s stock, valued at approximately $3,799,210.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,969 shares of company stock valued at $15,693,933. Insiders own 1.02% of the company’s stock.
Several brokerages have issued reports on CL. Macquarie began coverage on Colgate-Palmolive in a research report on Thursday. They set a “neutral” rating and a $76.00 target price on the stock. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Jefferies Group LLC increased their target price on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.83.
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Colgate-Palmolive Company (CL) opened at 72.28 on Friday. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27. The stock has a market cap of $63.67 billion, a price-to-earnings ratio of 26.86 and a beta of 0.80. The company has a 50-day moving average price of $71.57 and a 200-day moving average price of $73.28.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post $2.89 EPS for the current year.
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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