Boys Arnold & Co. Inc. trimmed its position in Colgate-Palmolive (NYSE:CL) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,518 shares of the company’s stock after selling 2,890 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Colgate-Palmolive were worth $1,130,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. OLD Second National Bank of Aurora bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $109,000. Krilogy Financial LLC lifted its position in shares of Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after acquiring an additional 289 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $121,000. Hanson & Doremus Investment Management lifted its position in shares of Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after acquiring an additional 70 shares during the period. Finally, Captrust Financial Advisors bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $122,000. 72.84% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CL. Jefferies Group restated a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Tuesday. Macquarie upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada restated a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Finally, Citigroup dropped their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $76.33.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. equities analysts forecast that Colgate-Palmolive will post 2.88 earnings per share for the current year.
In other news, insider Jennifer Daniels sold 7,375 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total value of $539,702.50. Following the completion of 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 legal filing with the SEC, which is available at this link. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,048 shares of company stock valued at $13,168,995. Insiders own 1.02% of the company’s stock.
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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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