Pinnacle Financial Partners Inc. increased its position in Colgate-Palmolive (NYSE:CL) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 27,875 shares of the company’s stock after purchasing an additional 893 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Colgate-Palmolive were worth $2,384,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bath Savings Trust Co raised its stake in Colgate-Palmolive by 21.8% during the fourth quarter. Bath Savings Trust Co now owns 62,600 shares of the company’s stock valued at $5,353,000 after buying an additional 11,195 shares during the last quarter. Brookstone Capital Management raised its stake in Colgate-Palmolive by 6.2% during the fourth quarter. Brookstone Capital Management now owns 9,556 shares of the company’s stock valued at $817,000 after buying an additional 555 shares during the last quarter. Pure Financial Advisors Inc. raised its stake in Colgate-Palmolive by 4.7% during the fourth quarter. Pure Financial Advisors Inc. now owns 4,484 shares of the company’s stock valued at $383,000 after buying an additional 200 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. First Hawaiian Bank now owns 10,082 shares of the company’s stock worth $862,000 after purchasing an additional 144 shares in the last quarter. Finally, IMS Capital Management bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth $221,000. Institutional investors own 76.47% of the company’s stock.
In related news, Director John T. Cahill sold 5,583 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $85.31, for a total value of $476,285.73. Following the completion of the transaction, the director now owns 28,594 shares in the company, valued at approximately $2,439,354.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Panagiotis Tsourapas sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $84.90, for a total value of $1,698,000.00. Following the completion of the transaction, the insider now owns 24,676 shares of the company’s stock, valued at approximately $2,094,992.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,885 shares of company stock valued at $22,254,529. Company insiders own 0.78% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Wednesday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4 billion. Colgate-Palmolive had a return on equity of 383.88% and a net margin of 16.65%. Colgate-Palmolive’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.05 EPS for the current fiscal year.
A number of analysts have commented on the company. Royal Bank of Canada lowered Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a report on Monday, January 4th. UBS Group lifted their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Morgan Stanley lifted their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Wells Fargo & Company initiated coverage on Colgate-Palmolive in a research report on Monday, December 7th. They set an “underweight” rating and a $80.00 target price on the stock. Finally, BidaskClub downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.58.
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. The Oral, Personal and Home Care segment products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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