Candriam Luxembourg S.C.A. lessened its stake in Colgate-Palmolive (NYSE:CL) by 23.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,817 shares of the company’s stock after selling 154,709 shares during the period. Colgate-Palmolive comprises approximately 0.6% of Candriam Luxembourg S.C.A.’s investment portfolio, making the stock its 26th largest holding. Candriam Luxembourg S.C.A. owned 0.06% of Colgate-Palmolive worth $35,397,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its stake in shares of Colgate-Palmolive by 45.7% during the 1st quarter. First Eagle Investment Management LLC now owns 7,830,595 shares of the company’s stock worth $561,297,000 after buying an additional 2,455,839 shares during the period. BlackRock Inc. grew its holdings in shares of Colgate-Palmolive by 3.0% during the 1st quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock worth $3,867,373,000 after purchasing an additional 1,592,608 shares during the period. Findlay Park Partners LLP purchased a new position in shares of Colgate-Palmolive during the 1st quarter worth $107,520,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 62.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,828,190 shares of the company’s stock worth $288,836,000 after purchasing an additional 1,470,556 shares during the period. Finally, APG Asset Management N.V. grew its holdings in shares of Colgate-Palmolive by 33.2% during the 4th quarter. APG Asset Management N.V. now owns 5,421,184 shares of the company’s stock worth $340,630,000 after purchasing an additional 1,350,400 shares during the period. Institutional investors and hedge funds own 73.23% of the company’s stock.
In other news, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $71.85, for a total transaction of $1,401,075.00. Following the sale, the insider now owns 77,935 shares of the company’s stock, valued at approximately $5,599,629.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helene D. Gayle sold 7,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $62.23, for a total value of $435,610.00. Following the transaction, the director now directly owns 35,395 shares in the company, valued at approximately $2,202,630.85. The disclosure for this sale can be found here. Insiders have sold a total of 142,079 shares of company stock worth $8,981,683 in the last three months. Corporate insiders own 1.02% of the company’s stock.
CL has been the subject of a number of research analyst reports. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Friday, April 6th. Morgan Stanley cut Colgate-Palmolive from an “overweight” rating to an “equal weight” rating in a report on Monday, April 30th. ValuEngine cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Citigroup lowered their target price on Colgate-Palmolive from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Tuesday, May 1st. Finally, Barclays set a $70.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, April 30th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $76.08.
CL stock traded down $0.67 during mid-day trading on Wednesday, reaching $63.06. The company had a trading volume of 4,252,380 shares, compared to its average volume of 4,272,445. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.08 and a quick ratio of 0.75. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91. The firm has a market capitalization of $55.61 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.57 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 27th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $0.67 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. analysts expect that Colgate-Palmolive will post 3.15 EPS for the current year.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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