Tibra Equities Europe Ltd purchased a new stake in Colgate-Palmolive (NYSE:CL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,000 shares of the company’s stock, valued at approximately $1,103,000.
A number of other hedge funds also recently made changes to their positions in CL. Fulcrum Capital LLC bought a new stake in Colgate-Palmolive in the third quarter valued at about $221,000. Abacus Planning Group Inc. bought a new stake in shares of Colgate-Palmolive in the third quarter worth about $220,000. Schulhoff & Co. Inc. bought a new stake in shares of Colgate-Palmolive in the third quarter worth about $406,000. Parallel Advisors LLC increased its holdings in shares of Colgate-Palmolive by 3.4% in the third quarter. Parallel Advisors LLC now owns 6,563 shares of the company’s stock worth $482,000 after acquiring an additional 217 shares in the last quarter. Finally, Kanawha Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 0.7% in the third quarter. Kanawha Capital Management LLC now owns 86,429 shares of the company’s stock worth $6,353,000 after acquiring an additional 582 shares in the last quarter. 76.09% of the stock is currently owned by institutional investors and hedge funds.
CL has been the subject of several recent research reports. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research report on Tuesday, August 13th. They set an “overweight” rating for the company. ValuEngine cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank upped their price objective on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $76.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Wells Fargo & Co upped their price objective on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.57.
NYSE CL traded down $0.41 during trading hours on Friday, hitting $66.46. 166,446 shares of the company traded hands, compared to its average volume of 3,913,608. The business’s 50-day moving average is $69.67 and its 200-day moving average is $71.59. Colgate-Palmolive has a twelve month low of $57.51 and a twelve month high of $76.41. The company has a debt-to-equity ratio of 43.94, a quick ratio of 0.25 and a current ratio of 1.03. The stock has a market capitalization 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 (NYSE:CL) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts predict that Colgate-Palmolive will post 2.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd will be given a $0.43 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.59%. Colgate-Palmolive’s payout ratio is 57.91%.
In other news, insider Patricia Verduin sold 44,572 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.01, for a total transaction of $3,165,057.72. Following the transaction, the insider now owns 93,296 shares in the company, valued at $6,624,948.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Prabha Parameswaran sold 4,221 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $71.68, for a total value of $302,561.28. Following the transaction, the insider now owns 16,793 shares in the company, valued at approximately $1,203,722.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,361 shares of company stock valued at $13,722,098. Insiders own 1.14% of the company’s stock.
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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