Aster Capital Management DIFC Ltd Makes New Investment in Colgate-Palmolive Company $CL

Aster Capital Management DIFC Ltd bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the 3rd quarter, HoldingsChannel reports. The firm bought 10,747 shares of the company’s stock, valued at approximately $859,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the period. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $960,390,000. Diamond Hill Capital Management Inc. lifted its holdings in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares during the last quarter. Invesco Ltd. grew its position in Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after acquiring an additional 621,841 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after acquiring an additional 1,839,853 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.9%

Shares of NYSE:CL opened at $97.50 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The firm’s 50 day moving average price is $87.08 and its 200 day moving average price is $82.63. The company has a quick ratio of 0.27, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The stock has a market cap of $78.59 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 4.36 and a beta of 0.29.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were issued a $0.52 dividend. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CL shares. Barclays upped their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 13th. Finally, Bank of America lifted their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares in the company, valued at approximately $1,018,691.15. This represents a 59.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares in the company, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,683 shares of company stock worth $17,486,693 over the last 90 days. Insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.