Fifth Third Bancorp Has $10.27 Million Stake in Colgate-Palmolive (NYSE:CL)

Share on StockTwits

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.

COPYRIGHT VIOLATION NOTICE: “Fifth Third Bancorp Has $10.27 Million Stake in Colgate-Palmolive (NYSE:CL)” was originally posted by Equities Focus and is the property of of Equities Focus. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.equitiesfocus.com/2019/06/16/fifth-third-bancorp-has-10-27-million-stake-in-colgate-palmolive-nysecl.html.

About Colgate-Palmolive

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.

Further Reading: How do CD ladders protect against rising interest rates?

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.