Benjamin F. Edwards & Company Inc. Sells 602 Shares of Colgate-Palmolive Company (CL)
Benjamin F. Edwards & Company Inc. reduced its position in Colgate-Palmolive Company (NYSE:CL) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,140 shares of the company’s stock after selling 602 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Colgate-Palmolive were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Reliance Trust Co. of Delaware increased its position in Colgate-Palmolive by 5.4% in the second quarter. Reliance Trust Co. of Delaware now owns 18,282 shares of the company’s stock worth $1,355,000 after buying an additional 935 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Colgate-Palmolive in the second quarter valued at $252,000. Monarch Capital Management Inc. grew its position in shares of Colgate-Palmolive by 6.8% in the second quarter. Monarch Capital Management Inc. now owns 7,849 shares of the company’s stock valued at $582,000 after purchasing an additional 500 shares in the last quarter. Bristlecone Advisors LLC grew its position in shares of Colgate-Palmolive by 1.0% in the second quarter. Bristlecone Advisors LLC now owns 32,721 shares of the company’s stock valued at $2,426,000 after purchasing an additional 315 shares in the last quarter. Finally, Steinberg Global Asset Management grew its position in shares of Colgate-Palmolive by 15.4% in the second quarter. Steinberg Global Asset Management now owns 12,009 shares of the company’s stock valued at $890,000 after purchasing an additional 1,600 shares in the last quarter. 73.16% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Company (CL) opened at 72.28 on Friday. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The company’s 50-day moving average price is $71.57 and its 200 day moving average price is $73.28. The company has a market cap of $63.67 billion, a price-to-earnings ratio of 26.86 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Colgate-Palmolive’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
In other news, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was 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 in the company, valued at $3,799,210.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were 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 owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock valued at $15,693,933 in the last quarter. 1.02% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on the company. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research report on Monday, July 24th. Wells Fargo & Company reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Jefferies Group LLC lifted their price target on Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $75.83.
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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