Marshall Wace LLP lifted its position in Colgate-Palmolive (NYSE:CL) by 634.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 342,950 shares of the company’s stock after purchasing an additional 296,264 shares during the quarter. Marshall Wace LLP’s holdings in Colgate-Palmolive were worth $23,505,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc grew its holdings in shares of Colgate-Palmolive by 1.0% in the third quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock valued at $4,922,224,000 after purchasing an additional 734,860 shares during the period. BlackRock Inc. grew its holdings in shares of Colgate-Palmolive by 13.5% in the fourth quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock valued at $3,609,804,000 after purchasing an additional 7,236,342 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Colgate-Palmolive by 3.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock valued at $1,935,674,000 after purchasing an additional 1,000,161 shares during the period. Northern Trust Corp grew its holdings in shares of Colgate-Palmolive by 1.4% in the first quarter. Northern Trust Corp now owns 10,906,808 shares of the company’s stock valued at $747,553,000 after purchasing an additional 146,144 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock valued at $626,200,000 after purchasing an additional 768,550 shares during the period. 75.60% of the stock is owned by hedge funds and other institutional investors.
Shares of CL stock opened at $73.35 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $74.14. The stock has a market cap of $62.97 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 4.80 and a beta of 0.79.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.
In other news, CEO Ian M. Cook sold 17,750 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $67.37, for a total value of $1,195,817.50. Following the completion of the transaction, the chief executive officer now owns 1,130,793 shares of the company’s stock, valued at $76,181,524.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Justin Skala sold 92,643 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total transaction of $6,557,271.54. Following the completion of the transaction, the vice president now directly owns 163,653 shares of the company’s stock, valued at approximately $11,583,359.34. The disclosure for this sale can be found here. In the last three months, insiders sold 338,711 shares of company stock valued at $24,020,415. Insiders own 1.14% of the company’s stock.
CL has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, March 6th. They set an “underperform” rating for the company. Citigroup set a $68.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, March 19th. UBS Group increased their target price on shares of Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “sell” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. raised shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $62.00 to $70.00 in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $70.13.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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