First Manhattan Co. Has $15.06 Million Position in Colgate-Palmolive (CL)
First Manhattan Co. decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,711 shares of the company’s stock after selling 11,405 shares during the quarter. First Manhattan Co.’s holdings in Colgate-Palmolive were worth $15,059,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Chip Partners Inc. boosted its holdings in Colgate-Palmolive by 0.4% in the second quarter. Blue Chip Partners Inc. now owns 1,813 shares of the company’s stock valued at $134,000 after acquiring an additional 8 shares during the last quarter. Cue Financial Group Inc. lifted its stake in Colgate-Palmolive by 0.3% in the second quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after buying an additional 14 shares during the period. AlphaMark Advisors LLC lifted its stake in Colgate-Palmolive by 1.5% in the second quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock valued at $126,000 after buying an additional 25 shares during the period. Capital Investment Advisors LLC lifted its stake in Colgate-Palmolive by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 8,318 shares of the company’s stock valued at $617,000 after buying an additional 27 shares during the period. Finally, Weatherstone Capital Management lifted its stake in Colgate-Palmolive by 0.7% in the second quarter. Weatherstone Capital Management now owns 4,069 shares of the company’s stock valued at $302,000 after buying an additional 28 shares during the period. 72.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive (NYSE CL) opened at $74.52 on Thursday. The company has a market capitalization of $65,726.17, a price-to-earnings ratio of 26.08, a P/E/G ratio of 3.43 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92.
Several equities analysts have issued reports on CL shares. Jefferies Group reissued a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, August 24th. Macquarie assumed coverage on Colgate-Palmolive in a research report on Thursday, September 14th. They set a “neutral” rating and a $76.00 target price on the stock. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $84.00 in a research report on Monday, September 25th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $76.33.
In other news, insider Jennifer Daniels sold 7,375 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total transaction of $539,702.50. Following the completion of the transaction, the insider now owns 38,691 shares in the company, valued at approximately $2,831,407.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $73.28, for a total value of $549,600.00. Following the transaction, the chief marketing officer now owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. 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 in the last 90 days. Corporate insiders own 1.02% of the company’s stock.
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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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