Beck Mack & Oliver LLC Reduces Holdings in Colgate-Palmolive Company (CL)
Beck Mack & Oliver LLC trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,449 shares of the company’s stock after selling 400 shares during the period. Beck Mack & Oliver LLC’s holdings in Colgate-Palmolive were worth $4,110,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Chickasaw Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 218.3% during the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock worth $1,238,000 after purchasing an additional 11,605 shares during the period. Meritage Portfolio Management raised its holdings in shares of Colgate-Palmolive by 0.3% during the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock worth $7,017,000 after purchasing an additional 255 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Colgate-Palmolive by 4.2% during the first quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after purchasing an additional 77,414 shares during the period. Israel Discount Bank of New York acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $1,349,000. Finally, ProShare Advisors LLC raised its holdings in shares of Colgate-Palmolive by 9.9% during the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock worth $64,382,000 after purchasing an additional 79,323 shares during the period. 73.16% of the stock is currently owned by institutional investors.
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Shares of Colgate-Palmolive Company (NYSE:CL) opened at 71.65 on Thursday. The firm has a market cap of $63.11 billion, a PE ratio of 26.63 and a beta of 0.80. The company has a 50 day moving average of $71.63 and a 200-day moving average of $73.31. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Equities research analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
A number of brokerages have weighed in on CL. BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Deutsche Bank AG reissued a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a report on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Jefferies Group LLC increased their target price on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of Colgate-Palmolive stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the transaction, the chief financial officer now directly owns 484,985 shares of the company’s stock, valued at $34,821,923. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction on Monday, July 17th. The shares were sold at an average price of $72.41, for a total value of $277,547.53. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,969 shares of company stock valued at $15,693,933. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company. 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 segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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