Westpac Banking Corp lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 225,702 shares of the company’s stock after selling 3,471 shares during the period. Westpac Banking Corp’s holdings in Colgate-Palmolive were worth $16,442,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its position in Colgate-Palmolive by 42.4% during the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares during the period. APG Asset Management N.V. increased its position in Colgate-Palmolive by 243.0% during the third quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock worth $296,557,000 after buying an additional 2,884,100 shares during the period. TIAA CREF Investment Management LLC increased its position in Colgate-Palmolive by 84.2% during the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the period. Vanguard Group Inc. increased its position in Colgate-Palmolive by 2.4% during the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares during the period. Finally, Swedbank acquired a new position in Colgate-Palmolive during the third quarter worth approximately $102,014,000. 72.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive (NYSE:CL) opened at $75.15 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The firm has a market capitalization of $65,559.34, a P/E ratio of 29.02, a P/E/G ratio of 3.42 and a beta of 0.81.
Several research analysts have commented on the company. SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Societe Generale lowered Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price target on the stock. in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Citigroup cut their price target on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Stifel Nicolaus set a $73.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Sunday, October 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $76.33.
In other Colgate-Palmolive news, insider Victoria L. Dolan sold 10,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $73.07, for a total transaction of $730,700.00. Following the sale, the insider now directly owns 60,528 shares in the company, valued at $4,422,780.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Justin Skala sold 126,393 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total value of $9,222,897.21. Following the sale, the chief operating officer now owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,048 shares of company stock worth $13,168,995. Company insiders own 1.02% of the company’s stock.
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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