Hanson & Doremus Investment Management Acquires 70 Shares of Colgate-Palmolive Company (CL)
Hanson & Doremus Investment Management increased its position in Colgate-Palmolive Company (NYSE:CL) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,630 shares of the company’s stock after purchasing an additional 70 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Colgate-Palmolive were worth $121,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $102,000. Proficio Capital Partners LLC raised its holdings in shares of Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after purchasing an additional 207 shares during the period. OLD Second National Bank of Aurora bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $109,000. Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $121,000. Finally, AlphaMark Advisors LLC raised its holdings in shares of Colgate-Palmolive by 452.1% in the 1st quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after purchasing an additional 1,370 shares during the period. 73.10% of the stock is currently owned by institutional investors.
Colgate-Palmolive Company (CL) opened at 72.28 on Monday. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a market capitalization of $63.67 billion, a PE ratio of 26.86 and a beta of 0.80. The stock’s 50 day moving average is $71.57 and its 200 day moving average is $73.28.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate 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 company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the sale, the chief financial officer now owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. 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 that occurred on Monday, July 17th. The stock was sold at an average price of $72.41, for a total transaction of $277,547.53. Following the sale, the insider now directly owns 53,022 shares in the company, valued at approximately $3,839,323.02. The disclosure for this sale can be found here. In the last three months, insiders sold 217,969 shares of company stock worth $15,693,933. Insiders own 1.02% of the company’s stock.
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CL has been the topic of several research analyst reports. BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Deutsche Bank AG reissued a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Jefferies Group LLC increased their price target on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $75.83.
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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