East Coast Asset Management LLC. decreased its stake in shares of Colgate-Palmolive (NYSE:CL) by 41.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 34,443 shares of the company’s stock after selling 24,692 shares during the period. Colgate-Palmolive comprises approximately 0.6% of East Coast Asset Management LLC.’s holdings, making the stock its 26th largest position. East Coast Asset Management LLC.’s holdings in Colgate-Palmolive were worth $2,361,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of Colgate-Palmolive by 48.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 81,910 shares of the company’s stock valued at $5,614,000 after purchasing an additional 26,600 shares during the period. Clarius Group LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $306,000. Northcape Capital Pty Ltd lifted its stake in shares of Colgate-Palmolive by 0.5% in the 1st quarter. Northcape Capital Pty Ltd now owns 192,646 shares of the company’s stock valued at $13,204,000 after purchasing an additional 936 shares during the period. Andra AP fonden acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $5,367,000. Finally, GWM Advisors LLC lifted its stake in shares of Colgate-Palmolive by 90.4% in the 1st quarter. GWM Advisors LLC now owns 7,873 shares of the company’s stock valued at $540,000 after purchasing an additional 3,738 shares during the period. Institutional investors own 75.66% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. UBS Group boosted their target price on shares of Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, March 29th. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $62.00 to $70.00 in a research note on Monday, April 29th. Jefferies Financial Group boosted their target price on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $70.13.
NYSE:CL opened at $73.05 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 32.25. The firm has a market cap of $62.95 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.80 and a beta of 0.80. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $74.14.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Colgate-Palmolive will post 2.84 EPS for the current year.
In other news, VP Philip G. Shotts sold 8,800 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $71.66, for a total value of $630,608.00. Following the completion of the sale, the vice president now directly owns 50,032 shares in the company, valued at $3,585,293.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Justin Skala sold 92,643 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total transaction of $6,557,271.54. Following the completion of the sale, the vice president now owns 163,653 shares of the company’s stock, valued at $11,583,359.34. The disclosure for this sale can be found here. Insiders have sold 354,711 shares of company stock valued at $25,087,935 over the last 90 days. 1.14% of the stock is currently 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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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