Fifth Third Bancorp increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 7.4% in the first quarter, Holdings Channel reports. The fund owned 149,796 shares of the company’s stock after purchasing an additional 10,310 shares during the period. Fifth Third Bancorp’s holdings in Colgate-Palmolive were worth $10,267,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Capital Financial Planning LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth $27,000. Parisi Gray Wealth Management boosted its position in shares of Colgate-Palmolive by 365.3% during the fourth quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares during the last quarter. Portfolio Solutions LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth $30,000. WP Advisors LLC bought a new position in shares of Colgate-Palmolive during the first quarter worth $34,000. Finally, Lindbrook Capital LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
A number of equities analysts recently weighed in on CL shares. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, May 7th. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. UBS Group upped their target price on shares of Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. Macquarie upped their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, Argus increased their price objective on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and an average target price of $70.13.
CL stock opened at $73.35 on Friday. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $74.14. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74. The firm has a market cap of $62.97 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 4.80 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the business earned $0.74 earnings per share. Colgate-Palmolive’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.
In other news, insider Ian M. Cook sold 17,750 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.61, for a total value of $1,217,827.50. Following the completion of the sale, the insider now owns 1,111,293 shares in the company, valued at approximately $76,245,812.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $69.92, for a total transaction of $1,363,440.00. Following the completion of the sale, the insider now owns 1,186,042 shares of the company’s stock, valued at approximately $82,928,056.64. The disclosure for this sale can be found here. Insiders sold a total of 338,711 shares of company stock valued at $24,020,415 in the last 90 days. Company insiders own 1.14% of the company’s stock.
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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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