Boston Research & Management Inc. Raises Stake in Colgate-Palmolive (CL)
Boston Research & Management Inc. grew its holdings in Colgate-Palmolive (NYSE:CL) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,628 shares of the company’s stock after acquiring an additional 738 shares during the period. Colgate-Palmolive comprises approximately 1.8% of Boston Research & Management Inc.’s holdings, making the stock its 23rd biggest holding. Boston Research & Management Inc.’s holdings in Colgate-Palmolive were worth $3,469,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CL. Renaissance Technologies LLC increased its stake in Colgate-Palmolive by 42.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares during the period. APG Asset Management N.V. increased its stake in Colgate-Palmolive by 243.0% during the 3rd quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock worth $296,557,000 after buying an additional 2,884,100 shares during the period. First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 35.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock worth $483,837,000 after buying an additional 1,750,417 shares during the period. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares during the period. Finally, Swedbank purchased a new stake in Colgate-Palmolive during the 3rd quarter worth $102,014,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jennifer Daniels sold 7,375 shares of Colgate-Palmolive stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $73.18, for a total value of $539,702.50. Following the completion of the transaction, the insider now directly owns 38,691 shares of the company’s stock, valued at approximately $2,831,407.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen I. Sadove sold 20,780 shares of Colgate-Palmolive stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The disclosure for this sale can be found here. Insiders sold a total of 181,048 shares of company stock valued at $13,168,995 over the last ninety days. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Jefferies Group reaffirmed a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Macquarie initiated coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective for the company. Royal Bank of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a report on Sunday, October 8th. Finally, Citigroup decreased their price objective on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.51.
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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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