Highbridge Capital Management LLC decreased its stake in Colgate-Palmolive (NYSE:CL) by 72.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 378,944 shares of the company’s stock after selling 977,625 shares during the quarter. Highbridge Capital Management LLC’s holdings in Colgate-Palmolive were worth $27,606,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Lincoln Capital LLC boosted its position in Colgate-Palmolive by 3.4% during the 2nd quarter. Lincoln Capital LLC now owns 11,870 shares of the company’s stock worth $880,000 after acquiring an additional 389 shares during the period. Appleton Partners Inc. MA boosted its position in Colgate-Palmolive by 5.2% during the 2nd quarter. Appleton Partners Inc. MA now owns 28,560 shares of the company’s stock worth $2,117,000 after acquiring an additional 1,405 shares during the period. Confluence Investment Management LLC boosted its position in Colgate-Palmolive by 3.0% during the 2nd quarter. Confluence Investment Management LLC now owns 1,308,539 shares of the company’s stock worth $97,002,000 after acquiring an additional 37,504 shares during the period. First Financial Bank Trust Division boosted its position in Colgate-Palmolive by 4.6% during the 2nd quarter. First Financial Bank Trust Division now owns 35,513 shares of the company’s stock worth $2,633,000 after acquiring an additional 1,562 shares during the period. Finally, Pennsylvania Trust Co boosted its position in Colgate-Palmolive by 26.4% during the 2nd quarter. Pennsylvania Trust Co now owns 90,423 shares of the company’s stock worth $6,703,000 after acquiring an additional 18,891 shares during the period. Institutional investors and hedge funds own 72.86% of the company’s stock.
Colgate-Palmolive (NYSE:CL) opened at $76.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.29. The firm has a market capitalization of $67,333.11, a P/E ratio of 29.59, a P/E/G ratio of 3.20 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. research analysts predict that Colgate-Palmolive will post 2.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, January 22nd. Colgate-Palmolive’s payout ratio is 61.78%.
A number of brokerages have commented on CL. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday. Jefferies Group reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, September 28th. Royal Bank of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Sunday, October 8th. Citigroup reduced their price target on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.45.
In other Colgate-Palmolive news, CMO Mukul Deoras sold 7,500 shares of Colgate-Palmolive stock in a transaction that occurred 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 directly owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Justin Skala sold 126,393 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Insiders sold a total of 181,950 shares of company stock worth $13,237,385 over the last three months. 1.02% of the stock is owned by company insiders.
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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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