Tibra Equities Europe Ltd acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $1,103,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Krane Funds Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $25,000. Retirement Income Solutions Inc raised its holdings in Colgate-Palmolive by 5.5% during the 3rd quarter. Retirement Income Solutions Inc now owns 10,067 shares of the company’s stock valued at $740,000 after acquiring an additional 524 shares during the period. Investec Asset Management North America Inc. raised its holdings in Colgate-Palmolive by 12.4% during the 2nd quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock valued at $633,000 after acquiring an additional 972 shares during the period. Manning & Napier Group LLC raised its holdings in Colgate-Palmolive by 1.4% during the 2nd quarter. Manning & Napier Group LLC now owns 656,289 shares of the company’s stock valued at $47,035,000 after acquiring an additional 9,351 shares during the period. Finally, Meadow Creek Investment Management LLC raised its holdings in Colgate-Palmolive by 93.0% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 45,100 shares of the company’s stock valued at $3,232,000 after acquiring an additional 21,736 shares during the period. 76.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Colgate-Palmolive stock traded down $0.41 during trading on Friday, hitting $66.46. The stock had a trading volume of 166,446 shares, compared to its average volume of 3,913,608. The firm has a market cap of $57.34 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 5.24 and a beta of 0.73. Colgate-Palmolive has a 12 month low of $57.51 and a 12 month high of $76.41. The business’s 50-day moving average is $69.67 and its 200 day moving average is $71.59. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 43.94.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, November 1st. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts expect that Colgate-Palmolive will post 2.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be paid a $0.43 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a yield of 2.59%. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
In related news, CFO Henning I. Jakobsen sold 858 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.60, for a total value of $64,006.80. Following the transaction, the chief financial officer now owns 39,031 shares of the company’s stock, valued at $2,911,712.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Philip G. Shotts sold 407 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $74.60, for a total value of $30,362.20. Following the completion of the transaction, the vice president now directly owns 41,323 shares in the company, valued at approximately $3,082,695.80. The disclosure for this sale can be found here. In the last three months, insiders sold 193,361 shares of company stock worth $13,722,098. 1.14% of the stock is owned by insiders.
A number of brokerages have issued reports on CL. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 target price on the stock. in a report on Monday. Berenberg Bank began coverage on shares of Colgate-Palmolive in a report on Wednesday, October 16th. They set a “sell” rating and a $58.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $76.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank boosted their target price on shares of Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, ValuEngine cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $72.57.
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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