First Merchants Corp lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,167 shares of the company’s stock after purchasing an additional 480 shares during the period. First Merchants Corp’s holdings in Colgate-Palmolive were worth $1,792,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Colgate-Palmolive by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock worth $93,025,000 after buying an additional 7,905 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Colgate-Palmolive by 4.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock worth $139,014,000 after buying an additional 77,414 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in Colgate-Palmolive during the 1st quarter worth about $1,349,000. TIAA CREF Investment Management LLC lifted its holdings in Colgate-Palmolive by 84.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the last quarter. Finally, Cue Financial Group Inc. lifted its holdings in Colgate-Palmolive by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock worth $360,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

In other news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the transaction, the insider now owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Justin Skala sold 74,374 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the transaction, the chief operating officer now directly owns 97,177 shares in the company, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. Insiders have sold 217,969 shares of company stock worth $15,693,933 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Thursday, May 25th. BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, August 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $75.83.

Shares of Colgate-Palmolive Company (NYSE:CL) opened at 72.55 on Thursday. The stock’s 50 day moving average price is $71.58 and its 200-day moving average price is $73.27. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm has a market cap of $63.91 billion, a PE ratio of 26.96 and a beta of 0.80.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $0.70 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.

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Colgate-Palmolive Company Profile

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

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