DnB Asset Management AS lifted its holdings in shares of Colgate-Palmolive (NYSE:CL – Free Report) by 15.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 725,041 shares of the company’s stock after purchasing an additional 94,565 shares during the quarter. DnB Asset Management AS owned about 0.09% of Colgate-Palmolive worth $55,857,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Beaumont Financial Advisors LLC boosted its stake in shares of Colgate-Palmolive by 2.7% during the 1st quarter. Beaumont Financial Advisors LLC now owns 4,842 shares of the company’s stock worth $364,000 after purchasing an additional 127 shares during the last quarter. NorthRock Partners LLC boosted its position in Colgate-Palmolive by 4.7% during the first quarter. NorthRock Partners LLC now owns 2,824 shares of the company’s stock worth $212,000 after acquiring an additional 128 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its stake in Colgate-Palmolive by 3.7% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 3,695 shares of the company’s stock worth $278,000 after acquiring an additional 133 shares during the period. Gladstone Institutional Advisory LLC grew its stake in Colgate-Palmolive by 2.1% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 6,329 shares of the company’s stock worth $476,000 after acquiring an additional 133 shares during the period. Finally, Sigma Investment Counselors Inc. raised its holdings in Colgate-Palmolive by 4.9% in the 1st quarter. Sigma Investment Counselors Inc. now owns 3,152 shares of the company’s stock valued at $237,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on CL shares. Barclays lifted their price objective on Colgate-Palmolive from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price objective on shares of Colgate-Palmolive in a report on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.33.
Colgate-Palmolive Stock Down 0.0 %
Shares of NYSE:CL traded down $0.03 during midday trading on Thursday, hitting $72.80. 1,279,332 shares of the company’s stock traded hands, compared to its average volume of 4,673,810. The firm’s fifty day moving average price is $75.26 and its two-hundred day moving average price is $75.85. The company has a debt-to-equity ratio of 28.43, a quick ratio of 0.73 and a current ratio of 1.17. Colgate-Palmolive has a twelve month low of $67.84 and a twelve month high of $82.09. The company has a market cap of $60.18 billion, a PE ratio of 40.47, a P/E/G ratio of 3.13 and a beta of 0.50.
Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 8.02%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.17 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Jennifer Daniels sold 24,704 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.31, for a total transaction of $1,811,050.24. Following the completion of the sale, the insider now directly owns 52,813 shares of the company’s stock, valued at approximately $3,871,721.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Gregory Malcolm sold 10,493 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $73.90, for a total transaction of $775,432.70. Following the completion of the sale, the vice president now owns 7,852 shares of the company’s stock, valued at $580,262.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Daniels sold 24,704 shares of Colgate-Palmolive stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.31, for a total transaction of $1,811,050.24. Following the completion of the sale, the insider now owns 52,813 shares of the company’s stock, valued at approximately $3,871,721.03. The disclosure for this sale can be found here. Insiders sold a total of 105,501 shares of company stock worth $7,838,332 in the last 90 days. 0.34% of the stock is owned by company insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.
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