Chemung Canal Trust Co. Sells 865 Shares of Colgate-Palmolive Company (CL)

Chemung Canal Trust Co. decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,281 shares of the company’s stock after selling 865 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $1,558,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CL. TIAA CREF Investment Management LLC raised its holdings in Colgate-Palmolive by 84.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after acquiring an additional 2,082,262 shares during the last quarter. Swiss National Bank raised its holdings in Colgate-Palmolive by 22.2% in the 1st quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after acquiring an additional 666,400 shares during the last quarter. Karp Capital Management Corp raised its holdings in Colgate-Palmolive by 3,749.4% in the 1st quarter. Karp Capital Management Corp now owns 381,210 shares of the company’s stock valued at $27,901,000 after acquiring an additional 371,307 shares during the last quarter. Teachers Advisors LLC raised its holdings in Colgate-Palmolive by 25.4% in the 1st quarter. Teachers Advisors LLC now owns 1,814,250 shares of the company’s stock valued at $132,785,000 after acquiring an additional 367,977 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $25,617,000. Institutional investors own 73.16% of the company’s stock.

CL has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $76.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, May 17th. Vetr cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target for the company. in a research note on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Thursday, May 25th. Bank of America Corporation increased their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Finally, BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $75.82.

In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $75.67, for a total transaction of $290,043.11. Following the completion of the transaction, the insider now owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total transaction of $999,040.00. Following the transaction, the senior vice president now directly owns 88,598 shares of the company’s stock, valued at approximately $6,322,353.28. The disclosure for this sale can be found here. Insiders have sold 221,802 shares of company stock valued at $15,983,976 in the last ninety days. 1.02% of the stock is currently owned by company insiders.

Colgate-Palmolive Company (NYSE:CL) traded down 0.01% during trading on Wednesday, hitting $71.94. 568,453 shares of the company were exchanged. The company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 26.73 and a beta of 0.80. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a 50-day moving average of $71.62 and a 200-day moving average of $73.32.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Colgate-Palmolive’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.

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About Colgate-Palmolive

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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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