Eagle Ridge Investment Management Purchases New Position in Colgate-Palmolive (CL)
Eagle Ridge Investment Management purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,920 shares of the company’s stock, valued at approximately $1,815,000.
Several other institutional investors have also made changes to their positions in CL. Pacer Advisors Inc. boosted its holdings in Colgate-Palmolive by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after buying an additional 1,566 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Colgate-Palmolive by 4.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after buying an additional 77,414 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $1,349,000. Principal Financial Group Inc. boosted its holdings in Colgate-Palmolive by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock worth $93,025,000 after buying an additional 7,905 shares during the last quarter. Finally, Personal Capital Advisors Corp boosted its holdings in Colgate-Palmolive by 5.8% in the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock worth $29,209,000 after buying an additional 21,456 shares during the last quarter. Hedge funds and other institutional investors own 72.84% of the company’s stock.
Several research firms recently issued reports on CL. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Macquarie upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective on the stock in a report on Tuesday. Deutsche Bank began coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 price objective on the stock. Finally, SunTrust Banks upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.33.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. research analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current year.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 7,375 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total value 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 SEC, which can be accessed through the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the sale, the director now directly owns 36,268 shares in the company, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,048 shares of company stock worth $13,168,995. Insiders own 1.02% of the company’s stock.
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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