Investors Buy Shares of Colgate-Palmolive Company (CL) on Weakness

Cornelia Mascio
Ottobre 22, 2017

Also, CFO Dennis J. Hickey sold 73,872 shares of Colgate-Palmolive stock in a transaction on Thursday, August 3rd. Its stake was worth $52,948,000 an increase of $772,000 as of the end of the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the company. As of quarter end Conning Inc. had sold 240 shares trimming its stake by 1.0%. Proficio Capital Partners LLC raised its position in Colgate-Palmolive by 16.9% in the first quarter. The Cambridge Investment Research Advisors Inc holds 64,643 shares with $4.79 million value, down from 69,279 last quarter. Kentucky-based Argi Invest Ltd Liability has invested 0.09% in Colgate-Palmolive Company (NYSE:CL). Finally, Hanson & Doremus Investment Management boosted its position in Colgate-Palmolive by 4.5% during the second quarter. The value of the investment in Colgate-Palmolive Company went from $17,856,000 to $17,760,000 a change of 0.5% quarter to quarter.

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Colgate-Palmolive Company (Colgate) is a consumer products company. Bank of New York Mellon Corp now owns 18,821,363 shares of the company's stock worth $1,377,537,000 after purchasing an additional 169,798 shares in the last quarter. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Krilogy Financial LLC now owns 1,547 shares of the company's stock valued at $115,000 after purchasing an additional 289 shares during the period. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Following the sale, the chief operating officer now owns 97,177 shares in the company, valued at $7,046,304.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,136 shares of company stock valued at $15,416,385. The insider Marsili Daniel B sold $1.06M. Zacks downgraded the shares of CL in report on Wednesday, August 5 to "Hold" rating.

Three months ago, on the other hand, the average analyst rating for Colgate-Palmolive Company (CL) was a Hold - from a survey of 13 analysts. Jefferies Group LLC reaffirmed a "hold" rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Sustainable Growth Advisers Lp sold 2.20M shares as Colgate (CL)'s stock rose 3.95%. Macquarie started coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. Finally, Wells Fargo & Company reissued a "market perform" rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The firm has fifty days moving average percentage of 1.12% to its latest price change.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. Of all equities tracked, Colgate-Palmolive had the 33rd highest net in-flow for the day.

The P/E ratio is 26.87 and the market value is 63.70B. Highbridge Capital Management Ltd Liability Com invested 0.6% in Colgate-Palmolive Company (NYSE:CL).

Wall Street analysts, on average, are forecasting the company's EPS to be 0.73, compared to 0.73 reported in the same quarter a year ago. The firm earned $3.87 billion during the quarter, compared to analysts' expectations of $3.94 billion. The business's revenue was down.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Analysts expect next quarter's EPS to be $0.78 with next year's EPS anticipated to be $3.13. The company also recently announced a dividend for shareholders that will be paid on Wednesday the 15th of November 2017. South Dakota Inv Council invested in 13,700 shares or 0.02% of the stock. The ex-dividend date will be on Friday October 20th, 2017. This dividend amount will represent a yield of $2.19. 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 divisions, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia. It increased, as 47 investors sold CL shares while 453 reduced holdings.

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