Latest Stocks: Cullen Frost Bankers Inc. Lowers Position in Colgate-Palmolive Company (CL)

Latest Stocks: Cullen Frost Bankers Inc. Lowers Position in Colgate-Palmolive Company (CL)

Cullen Frost Bankers Inc. reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 63,110 shares of the company’s stock after selling 6,442 shares during the period. Cullen Frost Bankers Inc.’s holdings in Colgate-Palmolive Company were worth $4,619,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CL. Norges Bank purchased a new stake in shares of Colgate-Palmolive Company during the fourth quarter valued at about $455,526,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Colgate-Palmolive Company during the fourth quarter valued at about $189,728,000. Russell Investments Group Ltd. purchased a new stake in shares of Colgate-Palmolive Company during the fourth quarter valued at about $139,634,000. Renaissance Technologies LLC boosted its stake in shares of Colgate-Palmolive Company by 23.4% in the fourth quarter. Renaissance Technologies LLC now owns 8,453,600 shares of the company’s stock valued at $553,204,000 after buying an additional 1,605,600 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Colgate-Palmolive Company by 1,744.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,505,674 shares of the company’s stock valued at $98,582,000 after buying an additional 1,424,021 shares during the period. 73.24% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Company (NYSE:CL) opened at 77.23 on Tuesday. The stock has a market cap of $68.22 billion, a price-to-earnings ratio of 27.87 and a beta of 0.70. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.26. The company has a 50-day moving average price of $73.57 and a 200 day moving average price of $70.29.

Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings data on Friday, April 28th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.80 billion. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, analysts expect that Colgate-Palmolive Company will post $2.92 earnings per share for the current year.

Several equities research analysts have recently issued reports on CL shares. Zacks Investment Research cut Colgate-Palmolive Company from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Jefferies Group LLC reduced their target price on Colgate-Palmolive Company from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Monday, May 1st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive Company in a report on Thursday, March 23rd. Citigroup Inc lifted their target price on Colgate-Palmolive Company from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, March 21st. Finally, BNP Paribas raised Colgate-Palmolive Company from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.41. In other Colgate-Palmolive Company news, VP Daniel B. Marsili sold 14,000 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $73.97, for a total value of $1,035,580.00. Following the completion of the sale, the vice president now owns 73,904 shares in the company, valued at approximately $5,466,678.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $73.72, for a total transaction of $282,568.76. Following the completion of the sale, the insider now owns 53,022 shares of the company’s stock, valued at approximately $3,908,781.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,833 shares of company stock valued at $2,894,929. 1.05% of the stock is owned by insiders.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL).

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